The Accounts Receivable Assignment Agreement is a crucial document used in German commercial practice for businesses seeking to monetize their receivables or secure financing. This agreement, governed by German law, particularly the German Civil Code (BGB), enables companies to transfer their rights to receive payment from customers to another party, typically a financial institution. It's commonly used in factoring arrangements, supply chain financing, or as security for loans. The document must address specific German legal requirements, including proper identification of receivables, compliance with form requirements, and data protection regulations. The agreement becomes especially relevant in scenarios where companies need to improve their working capital position or establish financing arrangements based on their accounts receivable portfolio.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
1. Parties: Identification of the Assignor and Assignee with full legal names and addresses
2. Background: Context of the assignment, including the business relationship and purpose of the assignment
3. Definitions: Key terms used throughout the agreement, including 'Receivables', 'Debtors', 'Assignment Date', etc.
4. Subject Matter of Assignment: Detailed description of the receivables being assigned and the scope of the assignment
5. Assignment and Transfer: Legal mechanics of the assignment, including the transfer of all ancillary rights
6. Purchase Price and Payment: Terms of payment for the assigned receivables, including calculation method and payment mechanics
7. Representations and Warranties: Assignor's warranties regarding the existence, ownership, and status of the receivables
8. Notification and Communication: Requirements and procedures for notifying debtors and handling communications
9. Data Protection: GDPR compliance provisions and data handling requirements
10. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction for disputes
1. Security Interests: Additional security provisions when the assignment is used as collateral
2. True Sale Provisions: Specific provisions ensuring the assignment qualifies as a true sale, needed for securitization transactions
3. Servicing Arrangements: Terms for ongoing servicing of the receivables if the assignor continues to collect
4. Credit Insurance: Provisions regarding existing credit insurance and its transfer or maintenance
5. Foreign Currency Provisions: Special provisions for receivables denominated in non-Euro currencies
6. Bank Account Pledge: Additional security through pledging of collection accounts, if required
1. Schedule 1 - Assigned Receivables: Detailed list of all receivables being assigned, including debtor information, amounts, and due dates
2. Schedule 2 - Form of Notice to Debtors: Template for notifying debtors of the assignment
3. Schedule 3 - Power of Attorney: Form of power of attorney for the Assignee to act in relation to the receivables
4. Schedule 4 - Data Processing Agreement: GDPR-compliant data processing terms
5. Appendix A - Existing Security Interests: List of any existing security interests affecting the receivables
6. Appendix B - Collection Account Details: Specification of bank accounts used for collections and payments
Authors
Find the document you need
Bank Account Control Agreement
A German law-governed tripartite agreement establishing control over bank accounts as security in financing transactions, between an account holder, bank, and security agent.
Download
Bookkeeping Service Agreement
German law-governed agreement for professional bookkeeping services, defining service scope, obligations, and compliance requirements.
Download
Accounts Receivable Agreement
German law-governed agreement for the transfer of accounts receivable between parties, outlining terms, conditions, and compliance requirements.
Download
Cash Account Management Agreement
German law-governed agreement between a financial institution and account holder establishing terms for cash account management services and operations.
Download
Account Bank Agreement
German law-governed agreement establishing the terms and conditions for corporate banking services, account operation, and related banking relationships.
Download
Account Pledge Agreement
A German law-governed security agreement creating a pledge over bank accounts as collateral for financial obligations.
Download
Accounts Receivable Assignment Agreement
A German law-governed agreement for the transfer of accounts receivable rights from an assignor to an assignee, compliant with BGB requirements.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
