The Accounts Receivable Assignment Agreement is a crucial financial instrument used when a business wishes to transfer its accounts receivable to another party, typically a financial institution or factoring company, in exchange for immediate funding. Under Maltese law, which combines civil law traditions with modern commercial practices and EU regulations, this document must meet specific legal requirements for the valid assignment of receivables. The agreement is commonly used in factoring arrangements, supply chain finance programs, or as part of broader financing structures. It includes detailed provisions covering the assignment mechanism, purchase price calculations, representations about the receivables' quality, collection procedures, and compliance with Maltese notification requirements. The document becomes particularly important in the context of Malta's position as a financial services hub, where many international businesses operate and require efficient working capital solutions.
Accounts Receivable Assignment Agreement for Malta
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Accounts Receivable Assignment Agreement
"I need an Accounts Receivable Assignment Agreement for a one-off transfer of 鈧2.5M in receivables from my manufacturing company to a local Maltese bank, with no recourse provisions and immediate payment of the purchase price."
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1. Parties: Identifies the assignor (seller of receivables) and assignee (buyer of receivables) with their full legal details
2. Background: Sets out the context of the agreement, including the assignor's ownership of receivables and the parties' intention to transfer them
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Assignment and Transfer: Core section detailing the assignment of receivables, consideration, and effective date of transfer
5. Purchase Price and Payment Terms: Specifies the purchase price for the receivables and how/when payment will be made
6. Representations and Warranties: Assignor's confirmations regarding ownership, validity, and status of the receivables
7. Notification and Perfection: Requirements for notifying debtors and perfecting the assignment under Maltese law
8. Collection and Administration: Procedures for collecting receivables and managing relationships with debtors
9. Covenants: Ongoing obligations of both parties throughout the life of the agreement
10. Events of Default: Circumstances constituting default and consequences thereof
11. Termination: Conditions and procedures for terminating the agreement
12. Governing Law and Jurisdiction: Confirms Maltese law as governing law and establishes jurisdiction for disputes
13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Recourse Provisions: Required when the assignment is with recourse, detailing the assignor's obligations to repurchase or compensate for defaulted receivables
2. Security Arrangements: Used when additional security is provided for the assignor's obligations
3. True Sale Provisions: Enhanced provisions to establish true sale characteristics when required for accounting or regulatory purposes
4. Ongoing Assignment Mechanism: Required for revolving facilities or ongoing assignments of future receivables
5. Data Protection: Enhanced provisions when personal data is involved in the assigned receivables
6. Cross-Border Provisions: Additional provisions for assignments involving foreign debtors or cross-border elements
7. Credit Insurance: Provisions dealing with credit insurance arrangements if receivables are insured
1. Schedule of Receivables: Detailed list of assigned receivables including debtor details, amounts, and due dates
2. Form of Notice to Debtors: Template notice to be sent to debtors informing them of the assignment
3. Form of Assignment Certificate: Template document for documenting specific assignments under the agreement
4. Eligibility Criteria: Criteria that receivables must meet to be eligible for assignment
5. Collection Procedures: Detailed procedures for collecting and administering the receivables
6. Pricing Mechanism: Detailed methodology for calculating the purchase price of receivables
7. Form of Reports: Templates for periodic reports required under the agreement
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Banking
Manufacturing
Wholesale and Distribution
Retail
Construction
Healthcare
Technology
Professional Services
Logistics and Transportation
Energy
Telecommunications
Relevant Teams
Finance
Legal
Treasury
Credit Control
Accounts Receivable
Risk Management
Collections
Operations
Compliance
Commercial
Corporate Finance
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Credit Controller
Accounts Receivable Manager
Financial Controller
Legal Counsel
Commercial Director
Risk Manager
Collections Manager
Business Development Manager
Factoring Manager
Corporate Finance Manager
Finance Operations Manager
Compliance Officer
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