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Accounts Receivable Assignment Agreement
"I need an Accounts Receivable Assignment Agreement for my Hong Kong manufacturing company to assign $5 million worth of trade receivables to ABC Bank Limited as part of a factoring arrangement, with the assignment to be effective from March 1, 2025."
1. Parties: Identification of the Assignor and Assignee with full legal names and addresses
2. Background: Context of the assignment, relationship between parties, and purpose of the agreement
3. Definitions and Interpretation: Definitions of key terms including Receivables, Debtors, Related Rights, and interpretation clauses
4. Assignment: Core provision effecting the transfer of receivables from Assignor to Assignee
5. Consideration: Details of payment or other consideration for the assignment
6. Representations and Warranties: Assignor's warranties regarding ownership, existence and validity of receivables
7. Perfection Requirements: Actions required to perfect the assignment including notices to debtors and registration requirements
8. Covenants: Ongoing obligations of the Assignor regarding the receivables
9. Powers and Rights of the Assignee: Scope of Assignee's authority to deal with receivables and enforce rights
10. Further Assurance: Obligation to execute further documents and take additional steps if needed
11. Governing Law and Jurisdiction: Specification of Hong Kong law and jurisdiction
12. Execution: Signature blocks and execution formalities
1. Security Provisions: Additional provisions if the assignment is by way of security rather than absolute
2. Reassignment: Provisions for reassignment of receivables in specific circumstances
3. Collection Account Arrangements: Required when specific account arrangements are needed for collecting assigned receivables
4. Data Protection: Specific provisions dealing with personal data handling where relevant
5. Tax Provisions: Specific tax-related provisions where relevant, including stamp duty arrangements
6. Confidentiality: Detailed confidentiality provisions if not covered in existing agreements
7. Power of Attorney: Optional appointment of Assignee as Assignor's attorney for dealing with receivables
8. Notice and Communications: Detailed notice provisions if not covered in existing agreements
1. Schedule 1 - Assigned Receivables: Detailed list and description of receivables being assigned
2. Schedule 2 - Form of Notice to Debtors: Template notice to be sent to debtors informing them of the assignment
3. Schedule 3 - Form of Acknowledgment: Template acknowledgment to be signed by debtors
4. Schedule 4 - Existing Security Interests: List of any existing security interests or encumbrances over the receivables
5. Schedule 5 - Excluded Receivables: List of specifically excluded receivables if any
6. Appendix A - Related Contracts: Copies or details of underlying contracts giving rise to receivables
7. Appendix B - Completion Requirements: Checklist of actions required to complete the assignment
Authors
Assigned Rights
Assignment
Business Day
Charged Property
Collection Account
Conditions Precedent
Cut-off Date
Debtor
Default Interest
Dispute
Effective Date
Encumbrance
Event of Default
Excluded Receivables
Finance Documents
Financial Indebtedness
Insolvency Event
Law
Material Adverse Effect
Notice of Assignment
Perfection Requirements
Potential Event of Default
Purchase Price
Purchased Receivables
Receivables
Receivables Documents
Related Contracts
Related Rights
Relevant Agreement
Restricted Party
Sanctions
Security Interest
Security Period
Stamp Duty
Transaction Documents
Transfer Date
Underlying Contract
Working Capital
Consideration
Representations and Warranties
Covenants
Security
Perfection
Notice Requirements
Payment Provisions
Collection Rights
Further Assurance
Power of Attorney
Events of Default
Remedies
Set-Off
Tax
Costs and Expenses
Confidentiality
Data Protection
Anti-Money Laundering
Sanctions Compliance
Indemnification
Force Majeure
Severability
Amendments
Assignments and Transfers
Notices
Counterparts
Governing Law
Jurisdiction
Dispute Resolution
Banking and Financial Services
Trade Finance
Manufacturing
Wholesale and Distribution
Import/Export
Professional Services
Construction
Retail
Technology
Healthcare
Logistics and Supply Chain
Asset Management
Insurance
Legal
Finance
Treasury
Credit and Collections
Risk Management
Operations
Compliance
Corporate Secretarial
Business Development
Commercial
Accounts Receivable
Chief Financial Officer
Finance Director
Treasury Manager
Financial Controller
Credit Manager
Accounts Receivable Manager
Legal Counsel
Commercial Director
Risk Manager
Business Development Manager
Operations Director
Company Secretary
Compliance Officer
Credit Analyst
Portfolio Manager
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