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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."
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
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
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
Financial Services
Banking
Commercial Lending
Asset Management
Manufacturing
Retail
Construction
Healthcare
Technology
Professional Services
Logistics and Distribution
Real Estate
Legal
Finance
Treasury
Credit Control
Accounts Receivable
Risk Management
Corporate Governance
Operations
Commercial
Business Development
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
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