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Account Receivable Purchase Agreement

Account Receivable Purchase Agreement Template for Belgium

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Key Requirements PROMPT example:

Account Receivable Purchase Agreement

"I need a Belgian law Account Receivable Purchase Agreement for a manufacturing company selling its receivables to a bank, with a maximum facility amount of 鈧50 million, including credit insurance provisions and GDPR compliance requirements."

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Document background
The Account Receivable Purchase Agreement is a crucial financing document used when companies seek to optimize their working capital by selling their accounts receivable to a financial institution. Under Belgian law, this agreement must comply with specific requirements for the assignment of receivables and financial services regulations. The document is typically used by companies seeking immediate liquidity through the monetization of their receivables portfolio, rather than waiting for customer payments. It establishes a framework for ongoing purchases of receivables, including detailed provisions for eligibility criteria, purchase price calculations, representations and warranties, and operational procedures. The agreement must address both Belgian national requirements and relevant EU regulations, particularly regarding financial services, data protection, and anti-money laundering. It's essential for businesses operating in Belgium seeking alternative financing solutions outside traditional lending arrangements.
Suggested Sections

1. Parties: Identification of the Seller (originator of receivables) and the Purchaser (factor), including their full legal names, registration details, and addresses

2. Background: Context of the agreement, including the Seller's business nature and desire to sell receivables, and the Purchaser's willingness to purchase them

3. Definitions: Comprehensive definitions of terms used throughout the agreement, including 'Eligible Receivables', 'Purchase Price', 'Advance Rate', etc.

4. Sale and Purchase: Core provisions regarding the sale and purchase of receivables, including the true sale nature of the transaction and transfer mechanism

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

6. Eligibility Criteria: Detailed criteria for receivables to qualify for purchase

7. Representations and Warranties: Seller's representations regarding its corporate existence, authority, and the quality of receivables

8. Covenants: Ongoing obligations of the Seller, including reporting requirements and operational covenants

9. Collections and Payments: Process for collecting receivables and handling payments, including account arrangements

10. Servicing: Provisions regarding the servicing of the receivables, whether by Seller or Purchaser

11. Events of Default: Circumstances constituting default and their consequences

12. Termination: Provisions for terminating the agreement and its consequences

13. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes

Optional Sections

1. Credit Insurance: Required when credit insurance is part of the structure, detailing insurance requirements and claims process

2. Electronic Platform: Needed when parties use an electronic platform for receivables submission and reporting

3. Currency Conversion: Required for cross-border transactions involving multiple currencies

4. Compliance with Sanctions: Detailed sanctions compliance provisions for international transactions

5. Data Protection: Detailed GDPR compliance provisions when personal data is involved

6. Parent Company Guarantee: When additional security through parent company support is required

7. Uncommitted Facility: When the facility is structured as discretionary rather than committed

8. Recourse Provisions: When the agreement includes full or partial recourse to the Seller

Suggested Schedules

1. Schedule 1 - Eligibility Criteria: Detailed list of criteria for acceptable receivables

2. Schedule 2 - Calculation of Purchase Price: Detailed methodology for calculating purchase price, including formulae

3. Schedule 3 - Form of Offer Notice: Template for offering receivables for purchase

4. Schedule 4 - Operational Procedures: Detailed procedures for daily operations, submissions, and reporting

5. Schedule 5 - Form of Data Protection Agreement: Standard terms for handling personal data in compliance with GDPR

6. Schedule 6 - Approved Debtors: List of approved debtors and their credit limits

7. Schedule 7 - Required Reports: Templates and specifications for required periodic reports

8. Schedule 8 - Fee Schedule: Detailed breakdown of all applicable fees and charges

9. Appendix A - Form of Assignment: Standard form for documenting individual assignments of receivables

10. Appendix B - Collection Account Details: Specifications for collection accounts and payment routing

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 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

Technology and Software

Professional Services

Healthcare

Industrial Equipment

Automotive

Consumer Goods

Agriculture

Energy

Telecommunications

Relevant Teams

Legal

Finance

Treasury

Credit Management

Accounts Receivable

Operations

Risk Management

Compliance

Commercial

Working Capital Management

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Credit Manager

Accounts Receivable Manager

Legal Counsel

General Counsel

Commercial Director

Financial Controller

Operations Manager

Risk Manager

Compliance Officer

Working Capital Manager

Corporate Finance Manager

Transaction Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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