Accounts Receivable Contract With Nike In New York

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

Description

The Accounts Receivable Contract with Nike in New York facilitates the sale of outstanding accounts by the Seller to the Buyer, outlining the rights and obligations of both parties. This contract specifies that the Seller must provide all relevant details about the accounts, including balances and payment history, noted in an attached Exhibit. Significant representations from the Seller include affirmations about the completeness of the accounts and the absence of contested payments or liens. The contract allows for an optional clause for recourse, enabling the Buyer to seek recourse against the Seller for any default in payments. Additionally, it affords the Buyer a defined inspection period to assess the accounts before finalizing the sale. Target audiences such as attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this document to ensure compliance with commercial laws, safeguard their interests in receivable transactions, and streamline the process of transferring accounts payable. Filling instructions are straightforward, requiring users to fill in specific places for names, dates, and details of accounts, and it is advised to keep a copy for each party's records.