Receivable Forward Contract In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-00402
Format:
Word;
Rich Text
Instant download
Description
The Receivable Forward Contract in Collin facilitates the sale of accounts receivable between a seller and a buyer. This contract outlines the seller's agreement to transfer all rights, interests, and obligations associated with the accounts listed in an attached exhibit. Key features include the seller's warranties regarding the validity of the accounts, a due diligence period for the buyer, and conditions for recourse if accounts default. The document allows for the selection of recourse or non-recourse terms, affecting the seller's liability in case of payment issues. Filling out the contract requires providing specific account details and seller information before signing on the designated date. The form serves attorneys, partners, owners, associates, paralegals, and legal assistants by ensuring that they have a clear framework for transactions involving accounts receivable, thereby minimizing risks and clarifying the terms of sale. It can be particularly useful in commercial transactions to manage cash flow and mitigate the seller's credit risk.
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