The Receivables Purchase Agreement serves as a crucial financing instrument in Indonesian commercial transactions, enabling businesses to monetize their accounts receivable. This document is typically used when a company wishes to sell its receivables to a financial institution or other purchaser for immediate cash flow, while potentially retaining the servicing of these receivables. The agreement must comply with Indonesian financial services regulations, particularly those issued by the Financial Services Authority (OJK) and Bank Indonesia. It includes detailed provisions for the transfer of receivables, purchase price mechanisms, representations and warranties, and perfection requirements under Indonesian law. The document is especially relevant in trade finance, supply chain financing, and factoring arrangements, providing businesses with an alternative funding source while offering purchasers investment opportunities in commercial receivables.
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1. Parties: Identifies the seller and purchaser of the receivables
2. Background: Sets out the context of the agreement and the parties' intentions
3. Definitions and Interpretation: Defines key terms and establishes interpretation rules
4. Sale and Purchase: Core provisions regarding the transfer of receivables and purchase mechanism
5. Purchase Price and Payment: Details the calculation and payment of the purchase price
6. Conditions Precedent: Prerequisites that must be satisfied before purchases can occur
7. Representations and Warranties: Statements of fact by parties, particularly regarding the receivables
8. Covenants: Ongoing obligations of the parties
9. Perfection Requirements: Steps required to perfect the transfer of receivables
10. Notice and Acknowledgment: Requirements for notifying debtors of the assignment
11. Events of Default: Circumstances constituting default and consequences
12. Indemnification: Provisions for compensation for losses or breaches
13. Confidentiality: Obligations regarding confidential information
14. Governing Law and Jurisdiction: Choice of law and dispute resolution provisions
15. Miscellaneous: Standard boilerplate provisions including notices, amendments, etc.
1. Revolving Purchase Facility: Used when there are ongoing purchases rather than a one-time purchase
2. Security Provisions: Required when additional security or collateral is provided
3. Servicing and Collections: Included when a separate servicer is appointed to collect receivables
4. Credit Enhancement: Used when guarantees or other credit support is provided
5. True Sale Provisions: Enhanced provisions when true sale characterization is crucial
6. Currency Provisions: Required for cross-border transactions or multiple currencies
7. Tax Provisions: Detailed tax provisions when complex tax implications exist
8. Data Protection: Enhanced provisions when dealing with personal data
9. Electronic Records: Required when receivables documentation is maintained electronically
1. Schedule of Receivables: Detailed list of receivables being purchased
2. Eligibility Criteria: Criteria for receivables to qualify for purchase
3. Form of Transfer Notice: Template for notices of transfer to be sent to debtors
4. Form of Offer Notice: Template for offering receivables for purchase (in revolving facilities)
5. Purchase Price Calculation: Detailed methodology for calculating purchase price
6. Required Documents: List of documents required for each purchase
7. Form of Servicer Report: Template for periodic reporting on collections
8. Conditions Precedent Documents: List of documents required as conditions precedent
9. Power of Attorney: Form of power of attorney for perfection actions
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Trade and Distribution
Technology
Healthcare
Construction
Telecommunications
Energy
Retail
Automotive
Agriculture
Logistics
Relevant Teams
Legal
Finance
Treasury
Credit and Collections
Risk Management
Operations
Compliance
Corporate Finance
Accounts Receivable
Business Development
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Credit Manager
Legal Counsel
Commercial Director
Accounts Receivable Manager
Risk Manager
Collections Manager
Finance Controller
Business Development Manager
Compliance Officer
Corporate Finance Manager
Financial Analyst
Operations Manager
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