Forward Flow Agreement

Forward Flow Agreement Template for Denmark

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Document background

The Forward Flow Agreement is utilized when a business wants to establish a continuous arrangement for selling its receivables to a purchaser, typically a debt collection agency or financial institution. This document is essential in the Danish market where regular portfolio sales are common in various sectors including banking, telecommunications, and utilities. The agreement must comply with Danish law, including the Danish Contracts Act, Financial Business Act, and GDPR requirements. It typically includes detailed eligibility criteria for receivables, pricing mechanisms, transfer procedures, and compliance obligations. The Forward Flow Agreement is particularly important for businesses looking to manage their balance sheet effectively while ensuring regulatory compliance in the Danish jurisdiction.

Suggested Sections

1. Parties: Identification of the seller and purchaser of the receivables

2. Background: Context of the agreement, including the seller's business and the nature of receivables to be sold

3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and interpretation rules

4. Sale and Purchase Structure: Framework for the forward-flow arrangement, including frequency of sales and commitment levels

5. Eligibility Criteria: Specific criteria that receivables must meet to be eligible for purchase

6. Purchase Price and Payment: Pricing mechanism, calculation methods, and payment terms

7. Transfer Mechanics: Procedures for identifying, offering, and transferring receivables

8. Representations and Warranties: Standard and specific warranties regarding the receivables and the parties' capacity

9. Seller's Ongoing Obligations: Continuing obligations of the seller regarding information, compliance, and cooperation

10. Purchaser's Obligations: Key obligations of the purchaser, including payment and compliance requirements

11. Data Protection and Confidentiality: Provisions ensuring GDPR compliance and protection of confidential information

12. Term and Termination: Duration of the agreement and circumstances allowing early termination

13. Consequences of Termination: Effects of termination and post-termination obligations

14. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes

Optional Sections

1. Servicing Arrangements: Required if the seller continues to service the sold receivables or if a third-party servicer is involved

2. Security and Trust Arrangements: Needed if additional security or trust structures are required for the transfers

3. Regulatory Compliance: Detailed compliance provisions if either party is regulated or if the receivables are regulated

4. Put-Back Rights: Provisions allowing return of receivables that fail to meet warranties or criteria

5. Performance Monitoring: Specific KPIs and monitoring requirements if performance tracking is crucial

6. Consumer Protection Provisions: Required if the receivables involve consumer debtors

7. Translation and Language: Needed if documents will exist in multiple languages

8. Parent Company Guarantee: Required if additional corporate guarantees are needed

Suggested Schedules

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

2. Form of Transfer Notice: Template for formal notification of receivables transfers

3. Pricing Schedule: Detailed pricing calculations and adjustments

4. Operational Procedures: Day-to-day procedures for identifying and transferring receivables

5. Required Documents: List of documents needed for each transfer

6. Data Fields: Specification of required data fields for receivables information

7. Form of Monthly Report: Template for regular reporting on portfolio performance

8. Compliance Requirements: Detailed regulatory and compliance procedures

9. Power of Attorney: Standard form of power of attorney if required for transfers

10. Data Processing Agreement: GDPR-compliant data processing terms and procedures

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