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Account Receivable Purchase Agreement

Account Receivable Purchase Agreement Template for India

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Key Requirements PROMPT example:

Account Receivable Purchase Agreement

"I need an Account Receivable Purchase Agreement for my manufacturing company to sell receivables to HDFC Bank, with a facility limit of INR 50 crores and quarterly settlement periods, including provisions for electronic invoicing and GST compliance."

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Document background
The Account Receivable Purchase Agreement is a crucial financial instrument in the Indian market that enables businesses to improve their working capital management by selling their accounts receivable to financial institutions or factoring companies. This document is typically used when companies seek to monetize their receivables portfolio, reduce credit risk, or improve their balance sheet position. The agreement must comply with Indian regulatory requirements, including the Factoring Regulation Act, 2011, and Reserve Bank of India guidelines. It contains detailed provisions for the purchase mechanism, pricing, eligibility criteria for receivables, servicing arrangements, and rights and obligations of all parties involved. The document is particularly relevant in the current Indian business environment where supply chain financing and working capital optimization have become increasingly important.
Suggested Sections

1. Parties: Identification of the seller (original creditor) and purchaser of the receivables

2. Background: Context of the transaction and brief description of the business relationship

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Purchase and Sale: Core transaction terms including the agreement to sell and purchase receivables

5. Purchase Price and Payment: Calculation methodology for purchase price, payment terms, and timing

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

7. Representations and Warranties: Seller's representations regarding the receivables and business

8. Covenants: Ongoing obligations of the parties during the agreement term

9. Servicing Arrangements: Terms for collection and management of receivables post-purchase

10. Events of Default: Circumstances constituting default and corresponding remedies

11. Indemnification: Mutual indemnification obligations and procedures

12. Term and Termination: Duration of agreement and termination rights

13. Confidentiality: Protection of confidential information exchanged during the transaction

14. Governing Law and Jurisdiction: Applicable law and dispute resolution mechanisms

15. Miscellaneous: Standard boilerplate provisions including notices, amendments, and assignment

Optional Sections

1. True Sale Provisions: Detailed provisions establishing true sale nature of the transaction - used when bankruptcy remoteness is crucial

2. Credit Enhancement: Additional security or support features - used when required by purchaser

3. Reserve Account: Terms for maintaining a reserve account - used in transactions with higher risk profiles

4. Electronic Platform Terms: Terms for using electronic systems for receivables management - used when electronic platforms are involved

5. Cross-Border Provisions: Additional terms for international receivables - used when foreign receivables are included

6. Overcollateralization: Terms for excess collateral maintenance - used in structured finance transactions

7. Parent Guarantee: Terms of parent company guarantee - used when additional security is required

Suggested Schedules

1. Schedule of Receivables: Detailed list of receivables being purchased, including key information

2. Eligibility Criteria Details: Comprehensive list of eligibility requirements and exceptions

3. Form of Purchase Notice: Standard form for notifying purchase of new receivables

4. Pricing Schedule: Detailed pricing calculations and adjustments

5. Form of Servicing Report: Template for periodic servicing reports

6. Operating Procedures: Detailed procedures for day-to-day operations

7. Form of Assignment: Standard assignment documentation for receivables transfer

8. Required Information and Documents: List of required documentation for each receivable

9. Notice Requirements: Forms and procedures for various required notices

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

Banking and Financial Services

Manufacturing

Retail

Technology and Software

Healthcare

Construction

Automotive

Telecommunications

Consumer Goods

Industrial Services

Logistics and Transportation

Energy and Utilities

Relevant Teams

Finance

Legal

Treasury

Credit Control

Accounts Receivable

Risk Management

Operations

Compliance

Commercial

Business Development

Collections

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Accounts Receivable Manager

Credit Controller

Legal Counsel

Contract Manager

Risk Manager

Working Capital Manager

Financial Controller

Commercial Director

Business Development Manager

Operations Manager

Collections Manager

Compliance Officer

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

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