Factoring Receivables Agreement Template for Philippines

1. Parties: Identification of the Factor and the Client (Seller) with complete legal names and addresses

2. Background: Context of the agreement, nature of the Client's business, and purpose of the factoring arrangement

3. Definitions: Definitions of key terms used throughout the agreement including Receivables, Eligible Receivables, Purchase Price, etc.

4. Purchase and Sale of Receivables: Core provisions regarding the sale and assignment of receivables, including the true sale nature of the transaction

5. Purchase Price and Payment Terms: Calculation of purchase price, advance rate, reserves, and payment mechanisms

6. Eligibility Criteria: Specific criteria that receivables must meet to be eligible for purchase

7. Representations and Warranties: Client's representations regarding their business, receivables, and compliance with laws

8. Covenants: Ongoing obligations of the Client including reporting requirements and operational covenants

9. Collection and Servicing: Procedures for collection of receivables, establishment of collection accounts, and servicing arrangements

10. Events of Default: Circumstances constituting default and consequences thereof

11. Remedies: Factor's rights and remedies upon occurrence of an event of default

12. Fees and Expenses: All fees payable to the Factor including factoring fees, processing fees, and expense reimbursement

13. Term and Termination: Duration of the agreement and circumstances for termination

14. General Provisions: Standard provisions including notices, amendments, governing law, and dispute resolution

1. Schedule A - Eligibility Criteria: Detailed listing of all criteria for acceptable receivables

2. Schedule B - Fee Schedule: Comprehensive breakdown of all fees and charges

3. Schedule C - Form of Purchase Request: Standard form for requesting purchase of receivables

4. Schedule D - Form of Notice to Debtors: Template for notifying debtors of the assignment

5. Schedule E - Operational Procedures: Detailed procedures for submission and processing of receivables

6. Schedule F - Required Reports: Forms and templates for periodic reporting

7. Schedule G - Excluded Debtors: List of debtors whose receivables are not eligible for purchase

8. Appendix 1 - Collection Account Details: Specifications of designated collection accounts

9. Appendix 2 - Power of Attorney: Form of power of attorney for collection purposes

10. Appendix 3 - Compliance Certificates: Templates for periodic compliance certification