Accounts Receivable Contract With Credit Card In Virginia
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Credit Card in Virginia is a formal agreement between a seller and a buyer regarding the sale of the seller's accounts receivable. This contract encompasses significant features such as the complete transfer of rights in all accounts listed in an attached exhibit, including invoices and the amounts owed. The seller must guarantee that all accounts are valid, outstanding, and that no payments are dependent on future deliveries. Additionally, the seller must disclose any contested accounts and outlines any security interests involved. Importantly, this contract defines whether the assignment is with or without recourse, indicating the buyer’s rights in case of defaults. The buyer has a specified period to review the accounts and can cancel the agreement if dissatisfied. This contract is essential for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured framework for transferring receivables, ensuring all parties are aware of their rights and obligations, and facilitating smoother financial transactions.
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