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 Receivable Contract with Nike in New York is designed to facilitate the sale of accounts receivable between a seller and a buyer. Key features include the seller's agreement to transfer their rights to all specified accounts, detailed representation of account status, and a provision for the buyer to inspect the accounts. The contract includes clauses for recourse options, where buyers can reconvey accounts back to the seller upon default. Additionally, the buyer has a defined period to conduct due diligence and can cancel the contract if unsatisfied. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for transactions involving accounts receivable. It ensures that all parties are aware of their rights and obligations, simplifying the buying and selling process while minimizing legal risks. The form's structure promotes transparency, enabling users to craft agreements that reflect their specific business needs in compliance with New York law.