Receivable Forward Contract In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Receivable Forward Contract in Oakland is a formal agreement facilitating the sale of accounts receivable between a seller and a buyer. This contract outlines the seller's commitment to transfer all rights to specified accounts, as listed in an attached exhibit, which includes the seller's invoices and due payments. Key features of the contract include representations made by the seller regarding the accounts' legitimacy and status, such as their outstanding balance and lack of contestation. Additionally, the contract stipulates whether the assignment is with or without recourse, impacting the buyer's rights in case of non-payment. It allows the buyer a designated period for inspection and due diligence of the accounts, with the option to cancel if unsatisfied. This contract is particularly useful for various legal professionals — attorneys can provide guidance on compliance and dispute resolution, while partners, owners, and associates can effectively negotiate and manage the sale of receivables. Paralegals and legal assistants benefit from detailed instructions for proper form completion, ensuring all essential information is accurately documented. Overall, this form serves as an essential tool for business transactions involving accounts receivable, ensuring legal clarity and protection for both parties.
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