Business Agreements

Bulk Sale Agreement: Advanced Notice to Creditor

Greg Stone Greg Stone
How To Use

This review list is provided to inform you about this document in question and assist you in its preparation.  This notice is written to give prior notice of a bulk transfer; the other notice appearing is for an after the fact notification. This notice is required by law in one form or the other. The difference in the forms relates to the timing of the notification.

  1. Make multiple copies. Send one to each party. Faxing is ideal since you can get a receipt from your fax machine.

Bulk Sale Agreement: Advanced Notice to Creditor

Pursuant to Section 6-107 of the Uniform Commercial Code, ________________________ is about to make a bulk transfer of property to _____________________________. The business address of the SELLER is _________________________________________________________.

The business address of the BUYER is _________________________________________________________.

So far as is known to the BUYER, the SELLER has not used any business name and address other than the above for the last three years, except for: _______________________________________________________________

The debts of the SELLER are not to be paid in full as they come due, or it is unknown whether the debts of the SELLER will be paid as due.

The property to be transferred is located at _________________________________________________________, and comprises: all of the inventory of goods of the SELLER.

The total of the SELLER’s debt is estimated to be $________ (_______________________________________________ & ____/100 dollars.)

The list of all creditors and a schedule of the property to be transferred is may be inspected during regular business hours at _________________________________________________________.

The transfer ______________ being made to pay existing debts: __________________________________________________

The transfer is for new consideration.

Creditors of the SELLERS must file their claims in writing at:
_______________________________
_______________________________
_______________________________
before ___________________, 20____

This bulk transfer will take place on or after ___________________, 20_____.

____________________
Date

______________________________