Bulk Sales Transfer: Any transfer in bulk (and not a transfer in the ordinary course of the sellers business) of a major part of the materials, inventory or supplies of an enterprise. The Uniform Commercial Code (UCC) regulates bulk transfers to deal with such commercial frauds as a merchant selling out stock, pocketing the proceeds and leaving creditors unpaid. The UCC requires the buyer of the goods to demand that the seller provide a schedule of all the property and a list of all creditors and that the buyer give notice to creditors of the pending sale. Failure to comply with UCC means that the transfer or sale is ineffective in respect to the claims of any creditor of the seller. Bulk transfers usually become relevant upon the liquidation or sale of a business.

 

Related Words

Bulk Sales Transfer: Any transfer in bulk (and not a transfer in the ordinary course of the sellers business) of a major part of the materials, inventory or supplies of an enterprise. The Uniform Commercial Code . . . View Full Definition

Sales Forecast: A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors.

Sales Invoice: See Invoice .

Sales For Local Currencies: A provision of P.L. 480 that permits a portion of commercial sales (under Title I) to be repaid in the country’s local currency.