Payment For Due Course In Suffolk
Category:
State:
Multi-State
County:
Suffolk
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is a legal document used in Suffolk to facilitate the transfer of rights to collect a debt from one party, known as the Assignor, to another party, referred to as the Assignee. This form is essential for parties involved in a financial transaction where a debt needs to be assigned and collected, ensuring clear documentation of the terms of the assignment. The form includes sections to describe the debt being assigned, including the amount, due date, and any related evidentiary documents. It explicitly states that the assignment is non-recourse, meaning the Assignee cannot seek repayment from the Assignor beyond the debt itself, while also ensuring the Assignor warrants the validity of the debt. For effective use, users should clearly fill in necessary details, such as the names of the Assignor and Assignee, and the specifics of the debt to ensure enforceability. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who engage in debt collection or financial transactions, offering a straightforward means to formalize the transfer of payment rights. Legal professionals can use this form to simplify the assignment process, ensuring compliance and protecting their clients' interests.
