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Deed Of Assignment Of Receivables Template for Ireland

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Key Requirements PROMPT example:

Deed Of Assignment Of Receivables

"I need a Deed of Assignment of Receivables under Irish law for my manufacturing company to assign €2.5M worth of trade receivables to ABC Bank plc as part of a factoring arrangement, with completion planned for March 2025."

Document background
The Deed of Assignment of Receivables is a crucial document in Irish commercial practice, commonly used in financing transactions, debt sales, and corporate restructuring. It enables businesses to monetize their receivables or transfer them for various commercial purposes. The deed must comply with specific Irish legal requirements, including those set out in the Conveyancing Act 1881 and the Companies Act 2014. It typically includes detailed schedules identifying the receivables, warranties about their status, and mechanisms for perfecting the assignment. This document is particularly important in invoice financing, debt factoring, and securitization transactions, where clear title and enforceability are essential. The deed must be properly executed as a deed under Irish law to ensure its validity and effectiveness.
Suggested Sections

1. Parties: Identification of the Assignor and Assignee, including full legal names, registration numbers, and registered addresses

2. Background: Context of the assignment, including the origin of the receivables and the commercial purpose of the assignment

3. Definitions and Interpretation: Definitions of key terms used in the deed and rules for interpreting the document

4. Assignment: Core provision affecting the legal transfer of the receivables from Assignor to Assignee

5. Consideration: Details of the payment or other consideration for the assignment

6. Representations and Warranties: Assignor's confirmations regarding ownership, right to assign, and status of the receivables

7. Perfection of Assignment: Requirements for giving effect to the assignment, including notice requirements and registration obligations

8. Further Assurance: Obligations to execute further documents or take additional steps to give effect to the assignment

9. Governing Law and Jurisdiction: Confirmation of Irish law as governing law and submission to Irish courts' jurisdiction

Optional Sections

1. Security Interest: Required if the assignment is by way of security rather than absolute assignment

2. Power of Attorney: Include when the Assignee needs power to take actions in the Assignor's name

3. Data Protection: Required when personal data is involved in the assigned receivables

4. Tax Provisions: Include specific tax provisions when the assignment has significant tax implications

5. Anti-Money Laundering: Required for assignments involving regulated entities or significant financial transactions

6. Confidentiality: Include when sensitive commercial information is involved

7. Notice Requirements: Detailed notice provisions when specific notification procedures are required for the underlying debtors

Suggested Schedules

1. Schedule 1 - The Receivables: Detailed list and description of all receivables being assigned

2. Schedule 2 - Form of Notice to Debtors: Template notice to be sent to debtors informing them of the assignment

3. Schedule 3 - Conditions Precedent: List of documents and conditions required before the assignment becomes effective

4. Schedule 4 - Assignor's Power of Attorney: Form of power of attorney if required

5. Schedule 5 - Contract Information: Details of the underlying contracts giving rise to the receivables

6. Appendix A - Relevant Documents: Copies or details of key documents relating to the receivables

7. Appendix B - Completion Requirements: Checklist of actions required to complete the assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




































Clauses




























Relevant Industries

Financial Services

Banking

Commercial Lending

Asset Management

Manufacturing

Retail

Construction

Healthcare

Technology

Professional Services

Logistics and Distribution

Real Estate

Relevant Teams

Legal

Finance

Treasury

Credit Control

Accounts Receivable

Risk Management

Corporate Governance

Operations

Commercial

Business Development

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Corporate Lawyer

Finance Manager

Credit Controller

Accounts Receivable Manager

Risk Manager

Commercial Director

Company Secretary

Financial Controller

Business Development Director

Operations Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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