Accounts Receivable Contract With Nike In Orange

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

Description

The Accounts Receivable Contract with Nike in Orange outlines the terms under which a seller assigns their accounts receivable to a buyer. It confirms the selling of all rights to specified accounts as detailed in an attached exhibit. Key features include representations about the status of the accounts, any contingent payments, and any existing disputes. The contract allows for recourse or non-recourse terms, meaning the buyer may hold the seller accountable for defaults on accounts if agreed. There is a provision for the buyer to inspect the accounts within a set timeframe and can cancel if not satisfied. This form is crucial for attorneys, partners, and paralegals in ensuring clarity and legal compliance when handling account assignments. It also serves owners and associates in maintaining financial integrity and managing risk related to outstanding receivables. Legal assistants can use this contract as a template for drafting similar agreements, ensuring a thorough understanding of the responsibilities involved.