Selling Receivables Is Called In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
Selling receivables is called in Maricopa typically involves a contract where a seller transfers ownership of their accounts receivable to a buyer. This document outlines the rights and responsibilities of both parties, ensuring transparency in the transaction. Key features include the requirement for sellers to represent the status of their accounts, the specification of payment terms, and what happens in case of defaults. Sellers must clarify if the accounts are secured and list any contingencies. Additionally, there is a due diligence period for buyers to verify the accounts before finalizing the purchase, providing them a safeguard against potential issues. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to formalize the sale of receivables efficiently. It serves as a protective measure that outlines rights and obligations, thus mitigating risks involved in the sale of financial assets. This document is essential in ensuring both parties have a clear understanding of the terms, helping to prevent future disputes.
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