Assignment of Accounts Receivable With Recourse

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Assignment of Accounts Receivable With Recourse Powered By Docstoc
					This agreement formally assigns the rights to the accounts receivables that are listed in
the assignment form. Value has already been received by the assignor, typically a
promissory note, and the assignment of the accounts receivable serves as collateral on
the note. As drafted this document contains a recourse provision whereby the assignor
must repurchase the balance of the amount on the accounts if a third party debtor fails
to pay the assignee, but this agreement can be modified to any terms the parties
require.
                            ASSIGNMENT OF ACCOUNTS RECEIVABLE
                                     (WITH RECOURSE)

FOR VALUE RECEIVED, __________________________ [NAME OF PERSON GIVING
AWAY THE RIGHTS], the undersigned, hereby sells and transfers all right, title and interest in
and to the account(s) receivable as annexed hereto, to _________________ [NAME OF
PERSON RECEIVING THE ASSIGNMENT].

__________________ [NAME OF PERSON GIVING AWAY THE RIGHTS], the
undersigned, warrants that said account(s) are just and due and the undersigned has not received
payment for same or any part thereof.

The undersigned further states that if any said account does not make full payment within ____
( ) days, said account(s) may be re-transferred to the undersigned and the undersigned shall
repurchase same for the balance then-owing on said account(s).

Signed under seal this ___ day of _____, 201___.


______________________________
Print Name of Assignor



_______________________________
Signature of Assignor




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DOCUMENT INFO
Description: This agreement formally assigns the rights to the accounts receivables that are listed in the assignment form. Value has already been received by the assignor, typically a promissory note, and the assignment of the accounts receivable serves as collateral on the note. As drafted this document contains a recourse provision whereby the assignor must repurchase the balance of the amount on the accounts if a third party debtor fails to pay the assignee, but this agreement can be modified to any terms the parties require.