Accounts Receivable Contract Format In Maryland

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

Description

The Accounts Receivable Contract Format in Maryland is designed for the sale of accounts receivable between a seller and a buyer. It outlines the terms under which the seller assigns all rights to the accounts listed, ensuring the buyer receives clear ownership of all accounts as represented in the attached exhibit. Key features include the seller's representations about the accounts, conditions under which the assignment is made (with or without recourse), and provisions for inspection and due diligence by the buyer. Filling out the form requires careful attention to details such as listing account balances, account debtor information, and any existing claims against the accounts. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need a structured approach to transferring accounts receivable, ensuring compliance with state laws. It is essential that users understand the implications of recourse and non-recourse sales, along with the responsibility of buyer satisfaction within the stipulated timeframe. This form helps facilitate clear communication and safeguards both parties in commercial transactions.