Receivable From Sale In New York

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

Description

The Contract for the Sale of Accounts Receivable in New York outlines the agreement between a Seller and a Buyer regarding the sale of receivables. Key features include the Seller's obligation to sell all rights to the accounts listed in Exhibit 'A', alongside related invoices and rights to received payments. The form stipulates that the Seller must confirm that all accounts are valid and not subject to disputes or contingencies. Important instructions for filling include precise details about the accounts, such as their balances, account debtor information, and any security interests. The form also provides options for the sale to be with or without recourse, determine the timeframe for the Buyer to inspect accounts, and states the governing law. This document is vital for attorneys, partners, owners, associates, paralegals, and legal assistants as it helps streamline the transfer of accounts receivable, ensuring clarity and legal protection in the transaction process. Additionally, it aids in establishing accurate record-keeping and rights related to payment collection, making it beneficial for legal and financial due diligence.