Receivable Forward Contract In Maryland
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Receivable Forward Contract in Maryland facilitates the sale of accounts receivable between a Seller and a Buyer. This contract includes key features such as the Seller's representation of their accounts, conditions of the sale, and rights related to the assigned accounts. Parties involved must ensure that the attached Exhibit "A" accurately reflects the account balances and debtor details. It is crucial that the contract specifies whether the assignment of accounts is with or without recourse, influencing the responsibilities of both the Seller and Buyer. The Buyer is allotted a specific period to inspect the accounts and assess their validity before finalizing the agreement. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in transactions requiring the sale or financing of receivables, providing a structured framework to mitigate risks and ensure compliance with Maryland law.
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