A Receivables Purchase Agreement is a fundamental document used in trade finance and working capital solutions, particularly relevant in the Maltese business environment where companies seek to optimize their working capital through receivables financing. This agreement type is commonly used when a business wishes to sell its accounts receivable to a financial institution or factoring company in exchange for immediate cash, typically at a discount. The document comprehensively details the mechanics of the purchase, including pricing, risk allocation, and operational procedures, while ensuring compliance with Maltese legal requirements, particularly the Civil Code (Chapter 16) and Financial Institutions Act (Chapter 376). It's especially valuable for businesses seeking to improve cash flow, reduce credit risk, or outsource receivables management, while operating within Malta's financial services framework and EU regulations.
Receivables Purchase Agreement for Malta
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Key Requirements PROMPT example:
Receivables Purchase Agreement
"I need a Receivables Purchase Agreement governed by Maltese law for a manufacturing company selling its trade receivables to a local bank, with a maximum facility amount of €5 million and including credit insurance requirements."
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1. Parties: Identification of the seller and purchaser with full legal names and addresses
2. Background: Context of the agreement, including the seller's business and nature of receivables being sold
3. Definitions and Interpretation: Comprehensive definitions of terms used throughout the agreement and interpretation rules
4. Sale and Purchase: Core provisions regarding the sale and purchase of receivables, including transfer mechanics
5. Purchase Price and Payment: Calculation and payment mechanisms for the receivables, including any discount or factoring fee
6. Conditions Precedent: Conditions that must be satisfied before purchases can commence
7. Representations and Warranties: Standard and specific representations and warranties from both parties
8. Covenants: Ongoing obligations of both parties throughout the agreement term
9. Servicing of Receivables: Provisions regarding collection and administration of the receivables
10. Events of Default: Circumstances constituting default and consequences
11. Termination: Termination events and processes
12. Indemnification: Indemnity provisions and procedures
13. Confidentiality: Protection of confidential information
14. Notices: Communication procedures between parties
15. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, amendments, etc.
1. Security: Include when additional security is required for the seller's obligations
2. Credit Insurance: Include when receivables are covered by credit insurance
3. True Sale Provisions: Enhanced provisions when true sale characterization is critical
4. Data Protection: Detailed section when processing personal data of individual debtors
5. Currency Conversion: Include for cross-border transactions involving multiple currencies
6. Electronic Platform: Include when using an electronic platform for receivables administration
7. Parent Company Guarantee: Include when parent company guarantee is required
8. Anti-Money Laundering: Enhanced provisions for regulated entities or high-risk transactions
9. Sanctions Compliance: Include for international transactions or when required by regulatory context
1. Eligibility Criteria: Detailed criteria for receivables eligible for purchase
2. Form of Purchase Request: Template for requesting purchase of receivables
3. Form of Purchase Confirmation: Template for confirming purchase of receivables
4. Conditions Precedent Documents: List of required documents and conditions
5. Computation of Purchase Price: Detailed methodology for calculating purchase price
6. Permitted Countries: List of countries where debtors may be located
7. Approved Debtor List: List of pre-approved debtors (if applicable)
8. Form of Assignment: Template for formal assignment documentation
9. Servicing Requirements: Detailed procedures for servicing receivables
10. Reporting Requirements: Templates and requirements for periodic reporting
Authors
Relevant legal definitions
Acceptable Bank
Account Bank
Administration Fee
Advance Rate
Applicable Law
Approved Currency
Approved Debtor
Assignment
Available Facility
Business Day
Calculation Date
Collection Account
Collection Period
Conditions Precedent
Contract
Credit Insurance Policy
Cut-off Date
Data Protection Laws
Debtor
Debtor Notification
Default Interest Rate
Defaulted Receivable
Deferred Purchase Price
Dilution
Discount Rate
Dispute
Eligible Debtor
Eligible Receivable
Encumbrance
Event of Default
Facility
Face Value
Finance Documents
Financial Indebtedness
Financial Statements
Funding Cost
GDPR
Governmental Authority
Guarantee
Indebtedness
Indemnified Person
Initial Purchase Price
Insolvency Event
Insurance Proceeds
Interest Period
Loss
Malta
Material Adverse Effect
Maximum Facility Amount
Net Face Value
Notice of Assignment
Obligor
Offer
Ongoing Conditions Precedent
Payment Date
Permitted Countries
Permitted Security
Portfolio
Purchase Date
Purchase Price
Purchase Request
Purchased Receivable
Purchaser
Receivable
Receivables List
Related Rights
Relevant Currency
Reporting Date
Repurchase Event
Repurchase Price
Reserve Account
Sanctioned Person
Security
Security Documents
Seller
Seller Credit and Collection Procedures
Service Fee
Servicer
Servicing Agreement
Settlement Date
Subsidiary
Taxes
Term
Transaction Documents
Transfer
True Sale
Trust Receipt
Underlying Contract
VAT
Account Bank
Administration Fee
Advance Rate
Applicable Law
Approved Currency
Approved Debtor
Assignment
Available Facility
Business Day
Calculation Date
Collection Account
Collection Period
Conditions Precedent
Contract
Credit Insurance Policy
Cut-off Date
Data Protection Laws
Debtor
Debtor Notification
Default Interest Rate
Defaulted Receivable
Deferred Purchase Price
Dilution
Discount Rate
Dispute
Eligible Debtor
Eligible Receivable
Encumbrance
Event of Default
Facility
Face Value
Finance Documents
Financial Indebtedness
Financial Statements
Funding Cost
GDPR
Governmental Authority
Guarantee
Indebtedness
Indemnified Person
Initial Purchase Price
Insolvency Event
Insurance Proceeds
Interest Period
Loss
Malta
Material Adverse Effect
Maximum Facility Amount
Net Face Value
Notice of Assignment
Obligor
Offer
Ongoing Conditions Precedent
Payment Date
Permitted Countries
Permitted Security
Portfolio
Purchase Date
Purchase Price
Purchase Request
Purchased Receivable
Purchaser
Receivable
Receivables List
Related Rights
Relevant Currency
Reporting Date
Repurchase Event
Repurchase Price
Reserve Account
Sanctioned Person
Security
Security Documents
Seller
Seller Credit and Collection Procedures
Service Fee
Servicer
Servicing Agreement
Settlement Date
Subsidiary
Taxes
Term
Transaction Documents
Transfer
True Sale
Trust Receipt
Underlying Contract
VAT
Clauses
Sale and Purchase
Assignment
Purchase Price
Payment Terms
Conditions Precedent
Representations and Warranties
Covenants
True Sale
Collections
Servicing
Security
Credit Insurance
Events of Default
Remedies
Termination
Set-off
Indemnification
Confidentiality
Data Protection
Anti-Money Laundering
Sanctions Compliance
Force Majeure
Notice Requirements
Information Rights
Reporting
Record Keeping
Further Assurance
Power of Attorney
Assignment and Transfer
Amendments
Severability
Entire Agreement
Governing Law
Jurisdiction
Dispute Resolution
Waiver
Costs and Expenses
Taxes
Survival
Counterparts
Assignment
Purchase Price
Payment Terms
Conditions Precedent
Representations and Warranties
Covenants
True Sale
Collections
Servicing
Security
Credit Insurance
Events of Default
Remedies
Termination
Set-off
Indemnification
Confidentiality
Data Protection
Anti-Money Laundering
Sanctions Compliance
Force Majeure
Notice Requirements
Information Rights
Reporting
Record Keeping
Further Assurance
Power of Attorney
Assignment and Transfer
Amendments
Severability
Entire Agreement
Governing Law
Jurisdiction
Dispute Resolution
Waiver
Costs and Expenses
Taxes
Survival
Counterparts
Relevant Industries
Manufacturing
Wholesale Trade
Retail
Construction
Technology
Healthcare
Professional Services
Telecommunications
Industrial Equipment
Consumer Goods
Energy
Transportation and Logistics
Agriculture
Pharmaceuticals
Automotive
Relevant Teams
Legal
Finance
Treasury
Credit Control
Accounts Receivable
Commercial
Risk Management
Operations
Compliance
Trade Finance
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Credit Controller
Accounts Receivable Manager
Commercial Director
Legal Counsel
Contract Manager
Risk Manager
Operations Manager
Financial Controller
Working Capital Manager
Trade Finance Manager
Corporate Banking Manager
Compliance Officer
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