US Legal Forms
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Contracts
Multi-State
Accounts Receivable - Contract to Sale

Receivable Forward Contract In Kings

Category:

Loans and Lending - Accounts Receivables

State:

Multi-State

County:

Kings

Control #:

US-00402

Format:

Instant download

Description

The Receivable Forward Contract in Kings is a formal agreement between a seller and a buyer for the sale of accounts receivable. This document allows the seller to transfer their rights to outstanding accounts and the related invoices to the buyer, providing essential information on the accounts included. Key features include representations by the seller regarding the accounts' legitimacy, a provision for due diligence by the buyer, and stipulations on recourse or non-recourse sale options. The form also outlines the responsibilities related to payment default and necessary repurchase arrangements, if applicable. Filling and editing instructions advise users to ensure accurate details on the accounts, including their status, and attach an exhibit detailing each account's specifics. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in the realms of business law, finance, and debt collection. It helps these professionals facilitate transactions securely while ensuring compliance with applicable state laws.

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