Receivable Forward Contract In Massachusetts
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Receivable Forward Contract in Massachusetts is a legal document facilitating the sale of a seller's rights to accounts receivable to a buyer. This contract outlines the seller's obligation to sell their outstanding accounts, as listed in an attached exhibit, which details the accounts' status and any existing rights. Key features include representations from the seller about the validity and completeness of the accounts, assurance that payments are not contingent on future deliveries, and disclosures about any existing defenses or liens. The contract allows for inspection by the buyer within a specified timeframe and provides terms for recourse if accounts default. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in commercial transactions and financing needs, as it provides a clear legal framework for managing receivables. By using this form, legal professionals can ensure compliance with Massachusetts laws, safeguard their clients' interests, and facilitate smooth transactions in the sale of accounts.
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