VIEWS: 1,547 PAGES: 5 CATEGORY: Creating a Sales Agreement POSTED ON: 1/4/2010
A Bulk Sales Escrow Agreement is an agreement whereby unsecured creditors force a business to give a portion of the sale proceeds from an asset sale to an escrow agent. The escrow agent holds the portion of the proceeds typically in an interest bearing account until the sale is final and then gives the funds to creditors. This document in its draft form contains numerous of the standard clauses commonly used in these types of agreements, and additional language may be added by the user for customization to ensure the specific terms of the parties' agreement are addressed. This form should be used by small businesses or creditors that want to collect the proceeds of an asset sale.
"Bulk Sales Escrow Agreement"