Accounts Receivable For Sale In New York
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Contract for the Sale of Accounts Receivable is a legal document designed to facilitate the sale of accounts receivable in New York. This form allows a seller to transfer their rights to receive payments from account debtors to a buyer, which can aid in cash flow management. Key features include an outline of the accounts being sold, representations by the seller regarding the accounts, and contingencies related to payment and delivery of products. Users must fill out essential details such as the seller, buyer, and specific account information in Exhibit 'A'. The form also outlines due diligence rights for buyers, allowing them a specified period to review the accounts before finalizing the sale. This document is valuable for attorneys, partners, and owners seeking to improve liquidity by monetizing outstanding accounts, as well as for associates, paralegals, and legal assistants tasked with drafting or reviewing these contracts. Understanding the specifics of recourse agreements is also crucial for minimizing financial risks.
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