Seller shall fully complete and execute, as taxpayer, prior to or immediately upon the execution of this Agreement, a form 8821 (Rev. Open the account in the State of Nevada's name.Receivable (AR) icon next to the contract. An accounts receivable purchase agreement is a legally binding contract that governs the purchase of accounts receivable between parties in a specific location. This Assignment of Accounts Receivable with Recourse template can be used to quickly remove valuable receivables from the operating entity. Most businesses have to be concerned about their customer's credit health. Receivables purchase agreements deal with accounts receivable or when a business bills out for goods and services. Contract AR should be entered when the revenue has been earned but not collected. NRS 649.054 Regulations authorizing collection from location outside of Nevada; standards for trust accounts. Customer Service at TEKsystems.