Selling Receivables Is Called In Nevada
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
Selling receivables in Nevada involves the transfer of accounts receivable from a seller to a buyer through a formal agreement, specifically the Contract for the Sale of Accounts Receivable. This document outlines the seller's rights to all listed accounts, ensuring that they are legally binding and unencumbered by future services or products. Key features of this form include the requirement for an attached exhibit detailing all accounts, representations by the seller about the validity and status of these accounts, and conditions surrounding payment and disputes. Filling out this contract requires detailed account information and may include clauses about recourse, allowing the buyer to return accounts that go into default. Additionally, buyers have a specified inspection period to review the accounts. This form is particularly relevant for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in financial transactions, debt collection, or business sales, as it provides a clear framework for executing such agreements while ensuring compliance with Nevada law.
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