Common use of Serviced Account Clause in Contracts

Serviced Account. A Receivable that is not purchased by Buyer, but which invoice and other documentation evidencing said Receivable is forwarded by Buyer, on behalf of Seller, to the Account Debtor for payment.

Serviced Account. A Receivable that is not purchased by Buyer, but which invoice and other documentation evidencing said Receivable is forwarded by BuyerXxxxx, on behalf of Seller, to the Account Debtor for payment.