The Deed of Assignment of Receivables is a crucial document in German commercial and financial practice, used when one party wishes to transfer its rights to receive payment or other performance to another party. This document is commonly used in factoring arrangements, security packages for financing transactions, or debt trading scenarios. The deed must comply with German law requirements, particularly the German Civil Code (BGB), and typically includes detailed schedules identifying the specific receivables being assigned, alongside provisions for perfection and notice requirements. It's particularly important in scenarios involving debt financing, asset-based lending, or business restructuring, where the ability to transfer receivables efficiently and securely is essential. The document needs to address specific German law requirements regarding the specificity of assigned rights and any necessary debtor notifications.
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1. Parties: Identification of the Assignor and Assignee, including full legal names, registration details, and addresses
2. Background: Context of the assignment, including the relationship between parties and the purpose of the assignment
3. Definitions: Key terms used in the deed, including 'Receivables', 'Debtors', 'Assignment Date', and other relevant definitions
4. Assignment: Core provision effectuating the transfer of the receivables from Assignor to Assignee, including the consideration
5. Representations and Warranties: Assignor's confirmations regarding ownership, right to assign, and status of the receivables
6. Perfection Requirements: Actions required to perfect the assignment, including notices to debtors if required
7. Further Assurance: Obligation to execute further documents and take additional steps if needed to give effect to the assignment
8. Costs and Expenses: Allocation of costs related to the assignment and its perfection
9. Governing Law and Jurisdiction: Confirmation of German law governance and jurisdiction for disputes
1. Security Provisions: Required if the assignment is for security purposes rather than an outright transfer
2. Future Receivables: Needed when the assignment includes receivables that will arise in the future
3. Notice Requirements: Detailed provisions about notifying debtors, if not covered in main perfection requirements
4. Data Protection: Required when personal data is involved in the assigned receivables
5. Set-off Rights: Provisions dealing with set-off rights of debtors, if relevant
6. Back-to-Back Provisions: Required if there are back-to-back assignments in a chain
7. Cross-Border Provisions: Required for international assignments involving multiple jurisdictions
1. Schedule of Receivables: Detailed list of all receivables being assigned, including debtor details, amounts, due dates
2. Form of Notice: Template notice to be sent to debtors informing them of the assignment
3. Existing Security: Details of any existing security over the receivables
4. Power of Attorney: Form of power of attorney if the Assignee is granted power to act on behalf of the Assignor
5. Contracts: Copies or details of the underlying contracts giving rise to the receivables
6. Debtor Details: Complete information about the debtors, including contact details and payment information
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