The Prepaid Forward Purchase Agreement is a specialized financial instrument used when parties wish to structure a transaction involving advance payment for future delivery of assets. This document is particularly relevant in the Philippine context, where such arrangements must comply with local securities laws, banking regulations, and the Civil Code. The agreement is commonly used in commodities trading, financial services, and various commercial sectors where parties seek to lock in prices and secure future delivery while providing upfront payment. The document includes comprehensive provisions for payment mechanics, delivery obligations, price calculations, and risk allocation, structured to comply with Philippine regulatory requirements. The agreement is especially useful for businesses seeking to manage price risk, secure supply chains, or structure financing arrangements through prepaid forward structures.
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1. Parties: Identification of the Forward Purchaser and Forward Seller, including their complete legal names and addresses
2. Background: Context of the transaction, relationship between parties, and purpose of the agreement
3. Definitions: Detailed definitions of terms used throughout the agreement, including financial terms, dates, and technical specifications
4. Prepayment Terms: Details of the upfront payment, including amount, timing, and payment mechanics
5. Forward Purchase Obligations: Core obligations regarding the future purchase and delivery of the underlying asset
6. Delivery Terms: Specifications for the delivery of the underlying asset, including timing, location, and delivery mechanics
7. Price Determination: Method for calculating the forward price, including any adjustments or true-up mechanisms
8. Representations and Warranties: Standard and transaction-specific representations and warranties from both parties
9. Covenants: Ongoing obligations of both parties during the term of the agreement
10. Events of Default: Circumstances constituting default and corresponding remedies
11. Early Termination: Provisions for early termination and associated settlement obligations
12. Tax Provisions: Allocation of tax obligations and responsibilities
13. Governing Law and Jurisdiction: Choice of Philippine law and jurisdiction provisions
14. General Provisions: Standard boilerplate provisions including notices, amendments, and assignment
1. Intermediary Provisions: Required when a broker or clearing house is involved in the transaction
2. Collateral Arrangements: Needed when additional security or margin requirements apply
3. Market Disruption: Required for agreements involving market-traded assets or reference prices
4. Physical Settlement Alternatives: Optional provisions for cash settlement in lieu of physical delivery
5. Force Majeure: Detailed force majeure provisions for physical delivery contracts
6. Regulatory Compliance: Special provisions required for regulated entities or products
7. Assignment and Transfer: Detailed provisions when transfer rights are important to either party
1. Schedule 1 - Asset Specifications: Detailed description of the underlying asset, including quality specifications and standards
2. Schedule 2 - Pricing and Calculations: Detailed methodology for price calculations, adjustments, and true-up mechanisms
3. Schedule 3 - Form of Delivery Notice: Standard form for delivery notifications
4. Schedule 4 - Payment Details: Banking and account information for payments
5. Schedule 5 - Required Documents: List of documents required for delivery and settlement
6. Appendix A - Confirmation Form: Standard form for transaction confirmations
7. Appendix B - Compliance Certificates: Forms of any required compliance or regulatory certificates
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Commodities Trading
Agriculture
Mining
Energy
Manufacturing
International Trade
Investment Banking
Commercial Banking
Asset Management
Relevant Teams
Legal
Finance
Treasury
Trading
Risk Management
Compliance
Operations
Commercial
Procurement
Business Development
Investment
Structured Products
Relevant Roles
Chief Financial Officer
Treasury Manager
Trading Manager
Risk Manager
Legal Counsel
Compliance Officer
Commercial Director
Procurement Manager
Finance Director
Operations Manager
Contract Manager
Business Development Manager
Investment Manager
Structured Products Manager
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