An accounts receivable purchase agreement is a legally binding contract that governs the purchase of accounts receivable between parties in a specific location. Receivable (AR) icon next to the contract.A receivables financing agreement is a type of financial transaction in which a business sells its accounts receivable (invoices) to a third party. The buyer then repays the mortgage to the lender over a period of time, usually 15 or 30 years. Because the UCC requires that any party claiming a lien or an ownership interest in a receivable file a. Accounts payable is a current liability in the balance sheet. Nixon, Melissa, Accounting Operations Manager.