The Forward Flow Agreement is essential for businesses engaged in regular sales of receivables or debt portfolios in the Netherlands. This document type is commonly used when a company wants to establish a long-term arrangement for the systematic sale of receivables, typically involving financial institutions, debt purchasers, or collection agencies. The agreement needs to comply with Dutch financial regulations, including the Financial Supervision Act (Wft) and relevant EU regulations such as GDPR. It sets out comprehensive terms covering eligibility criteria for receivables, pricing mechanisms, operational procedures, data protection measures, and transfer mechanics. The Forward Flow Agreement is particularly valuable when parties want to avoid negotiating individual sale agreements for each transaction, instead establishing a standardized framework for multiple future sales.
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1. Parties: Identification of the seller and buyer, including registration details and addresses
2. Background: Context of the agreement, nature of the receivables, and purpose of the forward flow arrangement
3. Definitions: Comprehensive definitions of terms used throughout the agreement, including financial, operational, and technical terms
4. Sale and Purchase Structure: Framework for the recurring sales, including frequency, commitment levels, and basic mechanics
5. Eligibility Criteria: Detailed criteria that receivables must meet to be eligible for sale under the agreement
6. Purchase Price and Payment: Pricing mechanism, calculation methods, adjustments, and payment terms
7. Sale Process: Detailed procedures for each sale, including offer, acceptance, and completion mechanics
8. Representations and Warranties: Standard and specific warranties regarding the receivables, seller's authority, and compliance
9. Data Protection and Security: GDPR compliance measures and data handling requirements
10. Transfer Mechanics: Legal and operational procedures for transferring the receivables
11. Servicing Arrangements: Post-sale servicing responsibilities and requirements
12. Regulatory Compliance: Compliance with relevant Dutch financial regulations and consumer protection laws
13. Termination: Termination events, procedures, and consequences
14. Governing Law and Jurisdiction: Confirmation of Dutch law application and jurisdiction
1. Consumer Protection Provisions: Additional provisions required when the receivables involve consumer debt
2. Special Industry Requirements: Specific provisions for particular industries (e.g., healthcare, utilities)
3. Third Party Rights: Provisions dealing with any third party rights or claims over the receivables
4. Security Arrangements: Additional security or collateral arrangements if required
5. Pre-emptive Rights: Any rights of first refusal or similar arrangements
6. Audit Rights: Detailed audit provisions if required by either party
7. Performance Reporting: Specific reporting requirements beyond standard reporting
8. Migration Arrangements: Detailed provisions for systems and data migration if required
1. Eligibility Criteria Detail: Detailed breakdown of all eligibility requirements and exceptions
2. Pricing Schedule: Detailed pricing mechanisms, formulae, and examples
3. Form of Transfer Documents: Template documents required for each individual sale
4. Operational Procedures: Detailed procedures for day-to-day operations and sales
5. Data Fields: List of required data fields and formats for receivables information
6. Required Documents: List of documents required for each receivable type
7. Service Levels: Detailed service level requirements and measurements
8. Form of Reports: Templates for required reporting
9. Data Processing Agreement: GDPR-compliant data processing terms and conditions
10. Power of Attorney: Standard form of power of attorney if required for collections
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Debt Collection
Credit Management
Consumer Finance
Commercial Finance
Healthcare
Utilities
Telecommunications
Retail
Insurance
Relevant Teams
Legal
Finance
Credit Management
Risk
Compliance
Operations
Data Protection
Treasury
Portfolio Management
Collections
Commercial
Business Development
Relevant Roles
Chief Financial Officer
Head of Credit Management
Legal Counsel
Debt Portfolio Manager
Risk Manager
Collections Manager
Compliance Officer
Data Protection Officer
Portfolio Analyst
Credit Risk Manager
Treasury Manager
Operations Director
Commercial Director
Business Development Manager
Finance Director
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