Master Factoring Agreement

Master Factoring Agreement Generator for Singapore

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Key Requirements PROMPT example:

"Need a Master Factoring Agreement under Singapore law for our manufacturing company to sell receivables to ABC Finance Ltd, with a facility limit of SGD 10 million and both recourse and non-recourse options, to be effective from March 2025."

Document background

The Master Factoring Agreement is a comprehensive legal framework used when a business seeks ongoing financing through the sale of its receivables. This agreement, governed by Singapore law, establishes the foundation for multiple transactions without the need for separate agreements for each sale. It addresses key aspects including pricing mechanisms, risk allocation, operational procedures, and compliance with Singapore's financial regulations. The Master Factoring Agreement is particularly relevant for businesses seeking to improve working capital management through a structured receivables financing program.

Suggested Sections

1. Parties: Identification of the Factor and the Client/Seller

2. Background: Context of the factoring arrangement and business relationship

3. Definitions: Key terms used throughout the agreement including definitions of Receivables, Eligible Receivables, Purchase Price, etc.

4. Assignment of Receivables: Core provisions regarding the transfer of receivables, including assignment mechanics and perfection requirements

5. Purchase Price and Payment Terms: Pricing structure, payment mechanisms, and calculation of advance rates and fees

6. Representations and Warranties: Standard assurances from both parties regarding capacity, authority, and receivables quality

7. Covenants: Ongoing obligations of the parties including reporting requirements and operational procedures

8. Events of Default: Circumstances constituting breach and consequences of default

9. Term and Termination: Duration of the agreement and circumstances for termination

Optional Sections

1. Credit Insurance: Provisions relating to credit insurance arrangements for cross-border or high-risk receivables

2. Electronic Processing: Provisions for electronic submission and processing of receivables through digital platforms

3. Recourse Provisions: Detailed provisions specifying circumstances where factor has recourse against the client

Suggested Schedules

1. Schedule 1 - Eligibility Criteria: Detailed criteria for acceptable receivables and excluded receivables

2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all applicable fees, charges and commissions

3. Schedule 3 - Form of Assignment Notice: Standard template for notifying debtors of the assignment

4. Schedule 4 - Operational Procedures: Detailed procedures for submission, verification and processing of receivables

5. Schedule 5 - Approved Debtor List: List of pre-approved debtors with their respective credit limits

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

Manufacturing
Wholesale Trade
Logistics
Technology
Construction

Relevant Teams

Finance
Treasury
Legal
Credit Control
Operations
Risk Management

Relevant Roles

Chief Financial Officer
Treasury Manager
Finance Director
Credit Manager
General Counsel

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Let's create your Master Factoring Agreement

Authors

Alex Denne

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