Selling Receivables Is Called In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Contract for the Sale of Accounts Receivable is designed to facilitate the transaction where one party, the Seller, transfers all rights to their accounts receivable to another party, the Buyer. This contract includes key features such as detailed representations by the Seller regarding the accounts, including the balance, debtor information, and any contingencies related to the payments. The document outlines the Seller's obligations, including the delivery of funds received after a specified date and the possibility of repurchase if accounts default. Additionally, it allows the Buyer a period to inspect the accounts and cancel the agreement if they find the terms unsatisfactory. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in financial transactions, as it provides a clear framework for the sale of receivables. The form's simplicity and straightforward language make it accessible for individuals with varying levels of legal knowledge, ensuring they understand their rights and responsibilities in such sales. By utilizing this contract, parties can minimize disputes and enhance the efficiency of the receivables sale process.
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