The Assignment Of Receivables Agreement serves as a crucial instrument in business financing and cash flow management. It enables companies to monetize their accounts receivable by selling them to financial institutions or other buyers. Under U.S. law, particularly the UCC, this document must include specific provisions to ensure the valid transfer of rights, proper notification to debtors, and compliance with state-specific requirements. The agreement is commonly used when businesses need immediate working capital, want to improve their balance sheet, or are engaging in factoring or securitization transactions.
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1. Parties: Identification of assignor and assignee with full legal names and addresses
2. Background/Recitals: Context of the assignment and relationship between parties
3. Definitions: Key terms including 'Receivables', 'Assignment Date', 'Consideration'
4. Assignment: Core provision transferring rights in receivables from assignor to assignee
5. Consideration: Payment or other value given for the assignment
6. Representations and Warranties: Assignor's confirmations about ownership and status of receivables
7. Notice and Perfection: Requirements for notifying debtors and perfecting the assignment
8. Governing Law: Applicable law and jurisdiction
1. Security Interest: Creation of security interest if assignment is for security - use when assignment is intended as security rather than absolute transfer
2. Servicing Arrangements: Terms for continued collection by assignor - use when assignor will continue to collect receivables
3. True Sale Provisions: Language establishing true sale nature - use in securitization transactions
1. Schedule of Receivables: Detailed list of assigned receivables including debtor details, amounts, due dates
2. Form of Notice to Debtors: Template notice informing debtors of the assignment
3. Purchase Price Calculation: Methodology for calculating consideration if based on formula
4. Excluded Receivables: List of receivables specifically excluded from assignment
Relevant legal definitions
Accounts Receivable
Agreement
Assignment
Assignment Date
Business Day
Closing Date
Collateral
Consideration
Cut-off Date
Debtor
Default
Effective Date
Encumbrance
Event of Default
Excluded Receivables
Face Value
Governing Law
Indebtedness
Interest Rate
Material Adverse Effect
Maturity Date
Notice
Outstanding Balance
Parties
Payment Date
Purchase Price
Purchased Receivables
Related Rights
Relevant Documents
Security Interest
Servicing Agreement
Transaction Documents
Transfer
UCC
Working Day
Agreement
Assignment
Assignment Date
Business Day
Closing Date
Collateral
Consideration
Cut-off Date
Debtor
Default
Effective Date
Encumbrance
Event of Default
Excluded Receivables
Face Value
Governing Law
Indebtedness
Interest Rate
Material Adverse Effect
Maturity Date
Notice
Outstanding Balance
Parties
Payment Date
Purchase Price
Purchased Receivables
Related Rights
Relevant Documents
Security Interest
Servicing Agreement
Transaction Documents
Transfer
UCC
Working Day
Clauses
Assignment
Purchase Price
Transfer of Rights
Representations and Warranties
Conditions Precedent
Perfection Requirements
Notice Requirements
True Sale
Servicing
Collections
Indemnification
Confidentiality
Further Assurance
Governing Law
Jurisdiction
Entire Agreement
Amendment and Waiver
Severability
Assignment and Transfer
Notices
No Set-Off
Costs and Expenses
Termination
Force Majeure
Counterparts
Data Protection
Anti-Money Laundering
Compliance with Laws
Dispute Resolution
Remedies
Purchase Price
Transfer of Rights
Representations and Warranties
Conditions Precedent
Perfection Requirements
Notice Requirements
True Sale
Servicing
Collections
Indemnification
Confidentiality
Further Assurance
Governing Law
Jurisdiction
Entire Agreement
Amendment and Waiver
Severability
Assignment and Transfer
Notices
No Set-Off
Costs and Expenses
Termination
Force Majeure
Counterparts
Data Protection
Anti-Money Laundering
Compliance with Laws
Dispute Resolution
Remedies
Relevant Industries
Financial Services
Manufacturing
Healthcare
Retail
Construction
Relevant Teams
Finance
Legal
Treasury
Accounting
Credit Control
Relevant Roles
Chief Financial Officer
Treasurer
Accounts Receivable Manager
Finance Director
Credit Manager
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