Accounts Receivable Contract With Customer In Kings

• Category: Loans and Lending - Accounts Receivables
• State: Multi-State
• County: Kings
• Control #: US-00402
• Format: Word; Rich Text

Description

The Accounts Receivable Contract with Customer in Kings is a legally binding agreement that facilitates the sale of outstanding accounts receivable from a seller to a buyer. The form requires the seller to affirm that the accounts are accurate and represent unpaid money owed for goods or services delivered. Important features include the detailed listing of accounts in an attached exhibit, a provision for buyer inspection and due diligence, and a clause for repurchasing defaulted accounts. The form allows for either recourse or non-recourse sales, indicating the conditions under which the seller may reclaim defaulted accounts. This contract is specifically useful for attorneys, partners, owners, associates, paralegals, and legal assistants dealing with collections and receivables. By using this contract, legal professionals can ensure clarity and protection in financial transactions involving accounts receivable. Additionally, it aids in compliance with state laws governing such sales, ultimately serving to mitigate risks associated with accounts receivable management.