Fill and Sign the Agreement Sale Purchase 497329844 Form

Agreement for Sale and Purchase of Accounts Receivable of Business with Seller Agreeing to Collect the Accounts Receivable Agreement made on the _____ day of _________________________________, 20_____, between _______________________________________________ (Name of Seller) of _______________________________________________________________ ________________________________________________________________________ ___________________________________ (street address, city, county, state, zip code) , referred to herein as Seller , and ______________________________________________ (Name of Buyer) , of ______________________________________________________ ________________________________________________________________________ ___________________________________ (street address, city, county, state, zip code) , referred to herein as Buyer. Whereas, Seller owns and operates a (describe business) ___________________ ________________________________________________________________________ ________________________________________________________________________ _______________________________________, hereinafter referred to as Business ; and Whereas, Seller desires to sell Buyer the accounts receivable of Business described in Exhibit A attached hereto and made a part hereof by reference ; and Whereas, Buyer desires to purchase said accounts receivable of Business with the understanding that Seller will collect said accounts receivable (hereinafter referred to as Receivables; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. In consideration of $__________________, Seller sells, assigns, transfers, and conveys to Buyer all of the Receivables described in Exhibit A. 2. Seller shall be responsible for collection of said Receivables for a period of ________________ (e.g. days or months), and shall remit to Buyer, on or before the __________ day of each month at the address set forth above, ________% of all amounts collected, the remainder said collected amounts to be kept by Seller as a fee for collecting said Receivables. 3. Any Receivables not collected within _____ days shall be assigned back to Seller by Buyer and Seller agrees to pay Buyer the sum of $________________ for said Receivables. 4. Seller agrees to comply with all State and Federal consumer protections laws including, but not limited to the Federal Fair Debt Collections Practices Act . Seller agrees to indemnify and save Buyer harmless from any monetary loss resulting from any violation by Seller, his employees, agents, and/or assigns, of said laws 5. Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 6. The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 7. Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 8. This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 9. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of __________________________________. 10. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. WITNESS our signatures as of the day and date first above stated. ___________________________________ ____________________________________ (P rinted Name of Seller) (P rinted Name of Buyer) ___________________________________ ___________________________________ (Signature of Seller) (Signature of Buyer)