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Accounts Receivable Financing Agreement
"Need an Accounts Receivable Financing Agreement for my manufacturing company to finance up to SGD 5 million in receivables from our Southeast Asian customers, with a particular focus on protecting our interests in cross-border transactions and including credit insurance provisions."
1. Parties: Identification of the financier and the company selling its receivables
2. Background: Context of the financing arrangement and business relationship
3. Definitions: Key terms including Eligible Receivables, Purchase Price, Collection Period
4. Purchase and Sale of Receivables: Core terms of the receivables purchase arrangement
5. Eligibility Criteria: Requirements for receivables to qualify for financing
6. Purchase Price and Payment Terms: Calculation methodology and payment mechanisms
7. Representations and Warranties: Standard assurances regarding receivables and business
8. Covenants: Ongoing obligations of the seller
9. Events of Default: Circumstances triggering default and remedies
1. Credit Insurance: Terms relating to credit insurance when receivables are credit insured
2. Cross-Border Provisions: Additional terms for international receivables when financing involves foreign debtors
3. Service Level Agreement: Operational procedures and timelines for larger, more complex arrangements
1. Form of Purchase Request: Standard form for requesting financing of receivables
2. Eligible Debtor List: List of approved debtors and their credit limits
3. Pricing Schedule: Detailed pricing terms and calculations
4. Operating Procedures: Detailed procedures for submission and processing
5. Form of Notice to Debtors: Template for notifying debtors of the assignment
6. Required Documents Checklist: List of supporting documents required for each purchase
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