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Account Receivable Purchase Agreement

Account Receivable Purchase Agreement Template for New Zealand

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Key Requirements PROMPT example:

Account Receivable Purchase Agreement

"I need an Account Receivable Purchase Agreement under New Zealand law for my manufacturing company, with non-recourse factoring arrangements and specific provisions for cross-border receivables from Australian customers."

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Document background
An Account Receivable Purchase Agreement is essential for businesses seeking to improve their working capital position through factoring arrangements. This agreement, governed by New Zealand law, enables companies to sell their accounts receivable to a financial institution (factor) at a discount, providing immediate access to cash while potentially transferring collection risk. The document comprehensively covers purchase mechanics, pricing, eligibility criteria, representations and warranties, and operational procedures. It is particularly relevant in situations where businesses have significant B2B receivables and need to optimize their working capital cycle. The agreement must comply with New Zealand's financial services regulatory framework, including the Contract and Commercial Law Act 2017, Personal Property Securities Act 1999, and relevant financial services legislation.
Suggested Sections

1. Parties: Identification of the seller (client) and purchaser (factor) with full legal names and addresses

2. Background: Context of the agreement, including the seller's business nature and desire to sell receivables

3. Definitions and Interpretation: Definitions of key terms including Eligible Receivables, Purchase Price, Discount Rate, etc., and interpretation rules

4. Sale and Purchase of Receivables: Core provisions regarding the sale and assignment of receivables, including true sale provisions

5. Purchase Price and Payment Terms: Calculation of purchase price, advance rate, reserves, and payment mechanics

6. Eligibility Criteria: Specific criteria that receivables must meet to qualify for purchase

7. Representations and Warranties: Seller's representations regarding receivables, business operations, and authority

8. Covenants: Ongoing obligations of the seller regarding operations, reporting, and compliance

9. Collection and Servicing: Procedures for collecting receivables and managing customer relationships

10. Events of Default: Circumstances constituting default and corresponding remedies

11. Indemnification: Parties' indemnification obligations and procedures

12. Term and Termination: Duration of agreement and termination rights

13. General Provisions: Standard boilerplate including notices, amendments, governing law, etc.

Optional Sections

1. Recourse Provisions: Used in recourse factoring arrangements where the seller retains credit risk

2. Credit Insurance: Include when receivables are covered by credit insurance

3. Cross-Border Provisions: Required when dealing with international receivables

4. Electronic Trading Platform: Include when using an electronic platform for receivables trading

5. Reserve Account: Used when implementing a reserve account mechanism

6. Parent Company Guarantee: Include when parent company guarantee is required

7. Debt Collection Procedures: Detailed procedures when factor handles collections

8. Data Protection: Enhanced privacy provisions when dealing with personal data

Suggested Schedules

1. Schedule 1 - Eligibility Criteria: Detailed list of criteria for acceptable receivables

2. Schedule 2 - Pricing and Fees: Detailed pricing structure, fees, and calculation methods

3. Schedule 3 - Operational Procedures: Detailed procedures for offering, accepting, and processing receivables

4. Schedule 4 - Required Reports: Forms and templates for required reporting

5. Schedule 5 - Form of Purchase Request: Standard form for requesting purchase of receivables

6. Schedule 6 - Form of Notice to Debtors: Template for notifying debtors of the assignment

7. Schedule 7 - Excluded Debtors: List of debtors whose receivables are not eligible

8. Appendix A - Power of Attorney: Form of power of attorney for collection purposes

9. Appendix B - Compliance Certificate: Form of periodic compliance certification

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions
























































Clauses


































Relevant Industries

Manufacturing

Wholesale Trade

Construction

Professional Services

Technology

Healthcare

Transportation and Logistics

Retail

Agriculture

Export/Import

Financial Services

Telecommunications

Relevant Teams

Finance

Legal

Treasury

Credit Control

Accounts Receivable

Risk Management

Operations

Commercial

Compliance

Business Development

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Controller

Accounts Receivable Manager

Financial Controller

Legal Counsel

Commercial Director

Risk Manager

Operations Manager

Company Secretary

Credit Risk Analyst

Collections Manager

Business Development Manager

Relationship Manager (Banking)

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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