Receivable Contract With Nike In Middlesex

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

Description

The Contract for the Sale of Accounts Receivable outlines the terms under which a seller transfers their rights to outstanding accounts to a buyer. The contract includes a list of the accounts in an attached Exhibit 'A' and specifies the seller's representations regarding the accounts, including their validity, security status, and any existing disputes. It emphasizes the obligations of the seller to ensure all accounts are uncontested and that funds received after a certain date are forwarded to the buyer. Importantly, the contract allows for either with or without recourse options, providing flexibility for buyers regarding their liability in case of default. Additionally, it grants the buyer a limited time frame to inspect the accounts, ensuring their satisfaction before finalizing the agreement. This form is particularly useful for attorneys, partners, and owners involved in financing transactions or debt collection. Paralegals and legal assistants can benefit from this contract by ensuring accurate preparation and compliance with local laws. The clarity of the provisions facilitates understanding among users with varying levels of legal knowledge, making it an essential tool for effective account management.