Bulk Sale, Advance Notice To Creditors

 

This review list is intended to educate you about the subject of this document and to guide you in its preparation. This notice is written to notify you in advance of a bulk transfer; the other notice appears to inform you after the fact. This notice is required by law in some capacity. The distinction between the two forms is in the timing of the notification.

 

1. Make numerous copies. Distribute one to each party. Faxing is advantageous because you can obtain a receipt via your fax machine.

To All Creditors, Advanced Notice of Bulk Sale

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___.

Dated: ________________________________________
_____________________________________________________
For ________________
To All Creditors, Advanced Notice of Bulk Sale
Review List

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.

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