Selling Receivables Is Called In New York
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
Selling receivables in New York is facilitated through a contract for the sale of accounts receivable. This form outlines the agreement between the seller and buyer regarding the sale of accounts, specifying all rights, interests, and attached invoices associated with the accounts being sold. Key features of the form include seller representations about the authenticity of the accounts, conditions under which accounts may be contested, and assurances of no outstanding liens or security interests. Users are instructed to fill in details related to account balances and conduct proper due diligence prior to finalizing the sale. The contract also details recourse arrangements and timelines for buyer inspection and contract cancellation. This form is particularly useful for attorneys and paralegals in structuring sales, providing essential information for partners and owners involved in asset management, and aiding associates and legal assistants in facilitating transactions. Overall, the document serves as a critical tool for ensuring legal compliance and clarity in the sale of receivables.
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