Accounts Receivable Assignment Agreement

Accounts Receivable Assignment Agreement Template for Singapore

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Key Requirements PROMPT example:

"Need an Accounts Receivable Assignment Agreement under Singapore law to transfer $5M worth of trade receivables from our manufacturing business to ABC Bank Ltd as part of a factoring arrangement, with completion targeted for March 2025."

Document background

The Accounts Receivable Assignment Agreement is essential for businesses seeking to monetize their receivables or obtain financing against their accounts receivable in Singapore. This document is commonly used in factoring arrangements, asset-based lending, and securitization transactions. It must comply with Singapore's legal framework, including the Civil Law Act, Companies Act, and relevant banking regulations. The agreement typically includes detailed provisions about the receivables being transferred, the purchase price or consideration, representations about the quality of the receivables, and the mechanism for notification to debtors.

Suggested Sections

1. Parties: Identification of assignor and assignee

2. Background: Context of the assignment and existing commercial relationship

3. Definitions: Key terms used in the agreement including Receivables, Assignment Date, and Collection Account

4. Assignment: Core terms of the assignment of receivables including scope and effective date

5. Consideration: Payment or other consideration for the assignment

6. Representations and Warranties: Assignor's confirmations regarding the receivables, ownership, and absence of encumbrances

7. Notice Requirements: Procedures for notifying debtors of the assignment

8. Governing Law: Specification of Singapore law as governing law and jurisdiction

Optional Sections

1. Security Provisions: Additional security arrangements and perfection requirements

2. Data Protection: PDPA compliance provisions for handling personal data

3. Tax Provisions: Specific tax treatment arrangements including GST considerations

4. Further Assurance: Obligation to execute additional documents and provide assistance

Suggested Schedules

1. Schedule of Receivables: Detailed list of assigned receivables including debtor details and amounts

2. Form of Notice: Template notice to be sent to debtors regarding the assignment

3. Payment Details: Bank account and payment information for collection of receivables

4. Existing Charges: List of existing charges or encumbrances over the receivables

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
Wholesale Trade
Technology
Healthcare

Relevant Teams

Finance
Legal
Treasury
Accounting
Credit Control
Risk Management

Relevant Roles

Chief Financial Officer
Financial Controller
Treasury Manager
Credit Manager
Legal Counsel
Accounts Receivable Manager

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Let's create your Accounts Receivable Assignment Agreement

Authors

Alex Denne

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