Account Receivable Purchase Agreement

Account Receivable Purchase Agreement Template for Germany

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Key Requirements PROMPT example:

I need an Account Receivable Purchase Agreement under German law for my manufacturing company to sell its domestic receivables to a German bank, with disclosed factoring and a maximum commitment of €5 million, to be effective from March 1, 2025.

Document background

The Account Receivable Purchase Agreement is a sophisticated financial instrument used in the German market to enable businesses to monetize their accounts receivable. It serves as the primary document governing the sale of receivables from businesses (originators) to specialized financial institutions (factors) under German law. The agreement must comply with the German Banking Act (KWG), which classifies factoring as a regulated financial service, the German Civil Code (BGB) provisions on assignment of receivables, and the Commercial Code (HGB). It is particularly valuable for businesses seeking to improve their working capital position without traditional borrowing. The document typically includes detailed provisions for the ongoing purchase of receivables, credit risk assessment, collection procedures, and regulatory compliance, including necessary GDPR provisions for handling debtor information.

Suggested Sections

1. Parties: Identification of the Seller (originator) and Purchaser (factor), including registration details required under German law

2. Background: Context of the agreement, business relationship, and purpose of the receivables purchase arrangement

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

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

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

6. Eligibility Criteria: Criteria for receivables to qualify for purchase, including legal and commercial requirements

7. Representations and Warranties: Seller's representations regarding existence, ownership, and quality of receivables

8. Servicing and Collections: Procedures for collection, remittance of proceeds, and reporting requirements

9. Information and Reporting Requirements: Ongoing reporting obligations, access to records, and information sharing requirements

10. Data Protection and Confidentiality: GDPR compliance provisions and confidentiality obligations

11. Events of Default: Definition of default events and consequences

12. Term and Termination: Duration, renewal, and termination provisions

13. Governing Law and Jurisdiction: German law as governing law and jurisdiction provisions

Optional Sections

1. Credit Insurance: Provisions regarding credit insurance if receivables are insured, including claims procedures and cooperation requirements

2. Back-up Servicing: Provisions for appointment and duties of back-up servicer, used when required by Purchaser's risk policy

3. Security Interest: Additional security provisions if required, such as reserves or guarantees

4. IT Interface and Systems: Technical requirements for system integration between parties, if automated processing is used

5. Additional Services: Provisions for additional services such as debtor credit monitoring or collection services

6. Undisclosed vs. Disclosed Factoring: Specific provisions depending on whether the assignment is disclosed to debtors

7. Cross-Border Provisions: Additional provisions for international receivables if applicable

Suggested Schedules

1. Form of Offer Letter: Standard form for offering receivables for purchase

2. Eligibility Criteria Details: Detailed list of eligibility requirements and excluded receivables

3. Operating Procedures: Detailed procedures for daily operations, including submission of receivables and payments

4. Pricing Schedule: Detailed pricing terms, including discount rate calculation and fees

5. Reporting Templates: Standard forms for periodic reporting and portfolio analysis

6. Form of Notice to Debtors: Standard form for notifying debtors of the assignment (if disclosed factoring)

7. Data Protection Protocol: Detailed procedures for handling personal data in compliance with GDPR

8. Collection Procedures: Detailed collection procedures and policies

Authors

Alex Denne

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

Retail

Construction

Transportation and Logistics

Healthcare

Technology

Professional Services

Industrial Products

Consumer Goods

Automotive

Energy

Telecommunications

Relevant Teams

Finance

Treasury

Legal

Risk Management

Operations

Compliance

Credit Management

Collections

Accounts Receivable

Commercial

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Credit Manager

Accounts Receivable Manager

Legal Counsel

Risk Manager

Operations Manager

Financial Controller

Compliance Officer

Commercial Director

Working Capital Manager

Collections Manager

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Authors

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