tiktok³ÉÈË°æ

All Countries
International Trade
Factoring Receivables Agreement

Factoring Receivables Agreement Template for Hong Kong

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Factoring Receivables Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Factoring Receivables Agreement

"I need a Factoring Receivables Agreement under Hong Kong law for a manufacturing company selling its receivables to a bank, with recourse provisions and a maximum facility limit of HKD 50 million, including specific provisions for cross-border receivables from mainland China."

Celebrated by
Collaborations with
Investors
Document background
This Factoring Receivables Agreement is designed for use in Hong Kong when a business seeks to improve its working capital position by selling its accounts receivable to a financial institution. The document establishes a framework for ongoing purchases of receivables, incorporating Hong Kong legal requirements for assignments and security interests. It includes comprehensive provisions for determining eligible receivables, purchase price calculations, representations and warranties, and operational procedures. The agreement is particularly relevant in Hong Kong's dynamic trading environment, where businesses often require efficient working capital solutions. It addresses key aspects such as true sale requirements, notice provisions, and regulatory compliance under Hong Kong law, while providing flexibility to accommodate various business sectors and transaction structures.
Suggested Sections

1. Parties: Identification of the Factor and the Client (seller of receivables)

2. Background: Context of the agreement and basic commercial understanding between the parties

3. Definitions and Interpretation: Key terms used throughout the agreement, including 'Eligible Receivables', 'Purchase Price', 'Advance Rate', etc.

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

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

6. Eligibility Criteria: Criteria for receivables to qualify for purchase under the agreement

7. Client Representations and Warranties: Standard and specific representations regarding the business and receivables

8. Client Covenants: Ongoing obligations of the client including information provision and operational requirements

9. Factor's Rights and Obligations: Key rights and responsibilities of the factor

10. Collection and Application of Receivables: Process for collecting receivables and applying proceeds

11. Events of Default: Circumstances constituting default and consequences

12. Termination: Terms for ending the agreement and post-termination obligations

13. Confidentiality: Provisions regarding confidential information and its protection

14. Notices: Communication procedures between parties

15. General Provisions: Standard boilerplate clauses including governing law, assignment, amendments

Optional Sections

1. Recourse Provisions: Used when the agreement includes recourse rights against the client for unpaid receivables

2. Credit Insurance: Required when receivables are covered by credit insurance

3. Security Arrangements: Needed when additional security is required beyond the receivables assignment

4. Electronic Platform Terms: Required when using an electronic platform for receivables submission and management

5. Cross-Border Provisions: Needed when dealing with international receivables

6. Industry-Specific Terms: Required for specific industries with unique requirements or regulations

7. Customer Notification Requirements: Detailed requirements when customer notification is required for the assignment

8. Service Level Requirements: Used when specific service levels are required for collection or processing

Suggested Schedules

1. Schedule 1 - Receivables Submission Procedure: Detailed process for submitting receivables for purchase

2. Schedule 2 - Eligibility Criteria Details: Detailed list of criteria for eligible receivables

3. Schedule 3 - Fee Schedule: Detailed breakdown of all fees and charges

4. Schedule 4 - Form of Notification to Debtors: Standard form for notifying debtors of the assignment

5. Schedule 5 - Operational Procedures: Detailed day-to-day operational procedures

6. Schedule 6 - Form of Receivables Schedule: Template for listing receivables offered for sale

7. Schedule 7 - Required Reports: Templates and requirements for regular reporting

8. Appendix A - Power of Attorney: Standard form of power of attorney for collections

9. Appendix B - Compliance Requirements: Detailed compliance and regulatory requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
























































Clauses



































Relevant Industries

Manufacturing

Wholesale Trade

Retail

Textiles

Electronics

Import/Export

Logistics

Construction

Professional Services

Healthcare

Technology

Telecommunications

Food and Beverage

Trading Companies

Relevant Teams

Finance

Treasury

Legal

Compliance

Credit Control

Accounts Receivable

Operations

Risk Management

Commercial

Business Development

Portfolio Management

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Accounts Receivable Manager

Financial Controller

Risk Manager

Commercial Director

Legal Counsel

Compliance Officer

Operations Manager

Credit Controller

Business Development Manager

Relationship Manager

Portfolio Manager

Industries








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

Find the exact document you need

Third Party Manufacturing Agreement

A Hong Kong law-governed agreement setting out terms for third-party manufacturing arrangements, including quality standards, IP protection, and compliance requirements.

find out more

Private Investment Contract

A Hong Kong law-governed agreement setting out terms and conditions for private investment, including investment structure, rights, and obligations of all parties.

find out more

Simple Loan Term Sheet

A preliminary document under Hong Kong law outlining the key commercial and legal terms of a proposed loan facility between lender and borrower.

find out more

Manufacturing Subcontractor Agreement

A Hong Kong law-governed agreement establishing terms and conditions between a main contractor and manufacturing subcontractor for outsourced manufacturing services.

find out more

Contract Manufacturing And Packaging Agreement

A Hong Kong law-governed agreement establishing terms for outsourced manufacturing and packaging services, including quality standards, specifications, and compliance requirements.

find out more

Manufacturing Representative Contract

A Hong Kong law-governed agreement establishing the terms and conditions between a manufacturer and their appointed sales representative.

find out more

Third Party Management Agreement

A Hong Kong law-governed agreement establishing terms for third-party management services, including service standards, responsibilities, and regulatory compliance.

find out more

Factoring Receivables Agreement

Hong Kong law-governed agreement for the purchase of accounts receivable by a factor from a business client, detailing terms, conditions, and operational procedures.

find out more

Toll Manufacturing Contract

A Hong Kong-governed agreement outlining terms for toll manufacturing services, including production requirements, quality standards, and regulatory compliance.

find out more

Exclusive Manufacturing Agreement

A Hong Kong law-governed agreement establishing exclusive manufacturing rights and obligations between a manufacturer and product owner.

find out more

Manufacturing Service Agreement

A Hong Kong law-governed agreement setting out terms for manufacturing services, including quality, pricing, and delivery requirements.

find out more

Toll Manufacturing Agreement

A Hong Kong law-governed agreement between a product owner and manufacturer for the production of goods according to specified requirements and standards.

find out more

Manufacturing Contract

A Hong Kong law-governed agreement setting out terms for manufacturing products, including specifications, quality standards, and commercial terms.

find out more

Manufacturing Agreement

A Hong Kong law-governed agreement setting out terms for manufacturing goods, including production specifications, quality standards, and commercial terms.

find out more

Contract Manufacturing Agreement

A Hong Kong law-governed agreement setting out terms for contract manufacturing services, including production specifications, quality standards, and operational requirements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.