Account Receivable Sales Formula In Mecklenburg

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

Description

The Contract for the Sale of Accounts Receivable outlines the agreement between a Seller and a Buyer regarding the sale of specific accounts receivable. The document specifies that the Seller is transferring all rights, titles, and interests in the accounts listed in an attached exhibit, including invoices and any future payments. Key features include representations by the Seller about the validity of the accounts, the certainty of payment, and the absence of any defenses or claims against these accounts. Users should carefully fill in all blanks and review the attached Exhibit 'A' for completeness. It remains crucial for parties to understand whether the sale is with or without recourse, as this impacts potential liabilities. Attorneys, partners, owners, associates, paralegals, and legal assistants may use this contract to facilitate the sale of receivables in commercial transactions, ensuring all legal requirements are met to protect both parties' interests. The form is designed to aid in due diligence by allowing the Buyer time to inspect the accounts before finalizing the agreement.