US Legal Forms
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Contracts
Multi-State
Accounts Receivable - Contract to Sale

Accounts Receivable Contract With Nike In Virginia

Category:

Loans and Lending - Accounts Receivables

State:

Multi-State

Control #:

US-00402

Format:

Instant download

Description

The Accounts Receivable Contract with Nike in Virginia outlines the agreement between a seller and a buyer regarding the sale of accounts receivable. Key features include the seller's obligation to transfer rights to all specified accounts, as detailed in an attached exhibit. The seller provides representations concerning the accuracy of the accounts, including the total balance, payment histories, and any existing contingencies. The contract also includes provisions for recourse, giving the buyer protection on accounts that may default. Users are given a defined period for due diligence, and if unsatisfied, can cancel the agreement without obligation. This contract is essential for various professionals, such as attorneys and paralegals, as it facilitates legal compliance in account transfers and protects both parties' interests. It ensures proper handling of accounts receivable, minimizing the risk of future disputes, making it a vital tool for legal firms and businesses engaging in such transactions.

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