Receivable Contract With Nike In Maricopa

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

Description

The Receivable Contract with Nike in Maricopa outlines an agreement where the Seller agrees to sell their rights to specific accounts receivable to the Buyer. Key features include the Seller's warranty of full ownership of the accounts listed, the provision of an exhibit detailing account balances and debtor information, and assurances that there are no contingent payments or outstanding disputes related to the accounts. The form allows for the possibility of recourse, giving the Buyer the right to reconvey any defaulted accounts back to the Seller, contingent on appropriate collection efforts. It also provides a due diligence period for the Buyer to inspect the accounts and potentially cancel the agreement without penalty if unsatisfied. This document serves as a vital tool for attorneys, partners, owners, associates, paralegals, and legal assistants, as it ensures clarity regarding the transaction's terms, legal protections, and offers a structured approach to managing accounts receivable sales. By utilizing this form, legal professionals can facilitate smoother transactions and reduce the risk of disputes.