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The Notice of Assignment of Accounts Receivable is a critical document in Malaysian commercial practice, commonly used in factoring, receivables financing, and other financial arrangements where receivables are transferred between parties. This notice is required to perfect the assignment and ensure its enforceability under Malaysian law, particularly under the Contracts Act 1950. It is typically issued when a business sells or assigns its accounts receivable to a financial institution or another party for immediate funding, debt security, or as part of a larger financing arrangement. The notice must contain specific elements to be legally effective, including clear identification of the assigned receivables, parties involved, and new payment instructions. It serves multiple purposes: legally notifying the debtor, protecting the assignee's interests, and establishing clear payment protocols. This document is particularly important in Malaysia's business environment where receivables financing is a common practice for maintaining business cash flow and securing funding.

1. Date and Address Block: Current date and full address details of the debtor

2. Reference Line: Reference to relevant contract(s) or invoice numbers relating to the accounts receivable

3. Notice Declaration: Clear statement that this is a formal notice of assignment of accounts receivable

4. Assignment Details: Specific details of the assignment agreement including date and parties involved

5. Description of Assigned Receivables: Clear identification of the specific receivables being assigned

6. Payment Instructions: New payment details and instructions for future payments

7. Effective Date: Clear statement of when the assignment takes effect

8. Acknowledgment Request: Request for acknowledgment of the notice by the debtor

9. Signature Blocks: Signature sections for both assignor and assignee