Account Receivable Purchase Agreement

Account Receivable Purchase Agreement Template for Singapore

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Key Requirements PROMPT example:

"Need an Account Receivable Purchase Agreement for our Singapore manufacturing company to sell $5M worth of receivables to DBS Bank, with monthly settlements and a 90% advance rate, to be completed by March 2025."

Document background

The Account Receivable Purchase Agreement is a crucial financing instrument in Singapore's commercial landscape, enabling businesses to monetize their accounts receivable for immediate working capital. This agreement, governed by Singapore law, facilitates the transfer of receivables from sellers to financial institutions or other buyers, detailing the terms of sale, representations and warranties, and compliance requirements. It's particularly valuable for businesses seeking to improve cash flow without traditional borrowing, while ensuring compliance with Singapore's regulatory framework, including MAS guidelines and relevant commercial legislation.

Suggested Sections

1. Parties: Identification of buyer and seller of receivables

2. Background: Context of the transaction and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Purchase and Sale: Core terms of the receivables purchase

5. Purchase Price and Payment: Pricing mechanism and payment terms

6. Representations and Warranties: Statements of fact and assurances by parties

7. Covenants: Ongoing obligations of the parties

8. Events of Default: Circumstances constituting breach and consequences

9. Termination: Conditions and process for terminating the agreement

10. Governing Law and Jurisdiction: Laws governing the agreement and dispute resolution

Optional Sections

1. Security Arrangements: Additional security measures when collateral is required

2. Credit Enhancement: Additional credit support mechanisms for risk mitigation

3. Cross-Border Provisions: Special provisions for international receivables transactions

4. Servicing Arrangements: Terms for collection and servicing of receivables if not handled by seller

5. True Sale Provisions: Enhanced provisions to ensure transaction qualifies as true sale

Suggested Schedules

1. Schedule of Receivables: Detailed list of receivables being purchased including key information

2. Eligibility Criteria: Specific criteria that receivables must meet to be eligible for purchase

3. Form of Purchase Notice: Template for notification of purchase of receivables

4. Form of Assignment: Template for formal assignment documentation

5. Debtor Notification Template: Standard form for notifying debtors of the assignment of receivables

6. Pricing Schedule: Detailed pricing methodology and calculations

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Financial Services
Manufacturing
Trading
Technology
Healthcare

Relevant Teams

Finance
Treasury
Legal
Accounts
Risk Management

Relevant Roles

Chief Financial Officer
Treasury Manager
Finance Director
Credit Controller
Legal Counsel

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Let's create your Account Receivable Purchase Agreement

Authors

Alex Denne

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