Account Receivable Sales Formula In Pima

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

Description

The Contract for the Sale of Accounts Receivable outlines the agreement between a seller and a buyer regarding the sale of outstanding accounts. This form is particularly relevant for attorneys, partners, owners, associates, paralegals, and legal assistants involved in commercial transactions, providing clear terms on the transfer of account rights and responsibilities. Key features include the seller's assurances about the validity of the accounts, their completion, and any potential liens or security interests. Users must ensure that the attached Exhibit 'A' accurately lists the accounts being sold along with pertinent details like balances and account debtor information. The form allows for either recourse or non-recourse sales, affecting how defaults are managed. Importantly, buyers have a specified period to inspect the accounts and can cancel the agreement if they find them unsatisfactory. Clear instructions for filling out the form, including date fields and signatures, are also provided, ensuring users can effectively navigate the contract process.