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Deed Of Assignment Of Receivables

Deed Of Assignment Of Receivables Template for Indonesia

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Key Requirements PROMPT example:

Deed Of Assignment Of Receivables

"I need a Deed of Assignment of Receivables under Indonesian law for transferring a portfolio of trade receivables worth IDR 5 billion from PT Global Trading to Bank Central Asia, with the assignment to be effective from March 1, 2025."

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Document background
The Deed of Assignment of Receivables is a crucial legal instrument in Indonesian business and financial transactions, used when one party wishes to transfer their rights to receive payment from debtors to another party. This document is commonly used in debt trading, securitization, factoring arrangements, or as part of corporate restructuring. It must comply with Indonesian Civil Code (KUHPerdata) requirements, particularly Articles 613-624 regarding assignments, and may require registration with relevant authorities such as the Financial Services Authority (OJK) in certain cases. The deed must include specific details about the receivables being transferred, consideration paid, and mechanisms for notifying debtors, as notification is a legal requirement for enforceability under Indonesian law.
Suggested Sections

1. Parties: Identification of the Assignor and Assignee, including their full legal names, registration numbers, and addresses

2. Background: Context of the assignment, including the original relationship between Assignor and Debtor, and the purpose of the assignment

3. Definitions: Definitions of key terms used throughout the deed, including 'Receivables', 'Related Rights', 'Effective Date', and 'Consideration'

4. Assignment: Core provision detailing the transfer of receivables and all related rights from Assignor to Assignee

5. Consideration: Details of the payment or other consideration for the assignment

6. Representations and Warranties: Assignor's warranties regarding ownership, existence, and status of the receivables

7. Notification Requirements: Procedures for notifying debtors of the assignment, as required under Indonesian law

8. Further Assurance: Obligations to execute further documents and take additional steps to perfect the assignment

9. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and designation of competent courts

Optional Sections

1. Security Arrangements: Required when the receivables are secured by collateral or guarantees that need to be transferred

2. Tax Provisions: Include when there are specific tax implications or allocations between the parties

3. Confidentiality: Include when the transaction involves sensitive commercial information

4. Power of Attorney: Include when the Assignee needs specific powers to act in relation to the receivables

5. Step-In Rights: Include when Assignee needs rights to take over existing contracts or relationships

6. Registration Requirements: Include when the assignment requires registration with specific authorities or registries

Suggested Schedules

1. Schedule of Receivables: Detailed list of all receivables being assigned, including debtor details, amounts, due dates, and account numbers

2. Original Contracts: List and/or copies of the contracts or agreements that gave rise to the receivables

3. Form of Notice to Debtor: Template notification letter to be sent to debtors informing them of the assignment

4. Security Documents: Copies of any security documents, guarantees, or collateral arrangements related to the receivables

5. Payment Details: Bank account and payment instruction details for future payments by debtors

6. Power of Attorney: Form of power of attorney if required for specific actions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking & Financial Services

Commercial Lending

Trade Finance

Asset Management

Debt Collection

Insurance

Manufacturing

Real Estate

Infrastructure

Retail

Healthcare

Technology

Relevant Teams

Legal

Finance

Treasury

Credit Management

Risk Management

Compliance

Accounts Receivable

Corporate Finance

Investment

Commercial

Business Development

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Lawyer

Finance Manager

Credit Manager

Treasury Manager

Accounts Receivable Manager

Risk Manager

Commercial Director

Business Development Manager

Investment Manager

Portfolio Manager

Debt Collection Manager

Compliance Officer

Industries
Indonesian Civil Code (KUHPerdata): Articles 1320-1338 governing the validity of contracts and general contract principles; Articles 613-624 specifically dealing with assignment (cessie) of receivables and rights
Law No. 42 of 1999 on Fiduciary Security: Relevant for cases where the assignment is used as security, requiring registration of the assignment if it constitutes a fiduciary transfer
OJK Regulation No. 35/POJK.05/2018: Regulations concerning the assignment of receivables in financial service institutions, including requirements for notification and documentation
Law No. 7 of 1992 as amended by Law No. 10 of 1998 on Banking: Relevant provisions regarding the transfer of bank receivables and related banking aspects of assignments
Law No. 24 of 2004 on Financial System Safety Net: Provisions affecting the assignment of receivables involving financial institutions and systemic risk considerations
Government Regulation No. 21 of 2015 on Procedures for Registration of Fiduciary Security: Registration requirements and procedures if the assignment involves fiduciary security aspects
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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