Accounts Receivable Contract With Customer Service In Virginia
Category:
State:
Multi-State
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Accounts Receivable Contract with Customer Service in Virginia outlines the terms under which a seller transfers their rights to accounts receivable to a buyer. Key features of the contract include the seller's representations and warranties regarding the accounts, an attached exhibit listing account details, and conditions regarding payment and default. The seller agrees to sell all rights to specified accounts and acknowledges that they are free from any liens or claims. The buyer has an inspection period to verify the accounts and may cancel the agreement if unsatisfied. This document is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for managing account sales. It ensures compliance with Virginia state laws and protects both parties’ interests by detailing recourse options in case of default. Additionally, it facilitates efficient due diligence processes, making it suitable for businesses looking to optimize their cash flow through accounts receivable sales.
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