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Accounts Receivable Agreement

Accounts Receivable Agreement Template for New Zealand

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Key Requirements PROMPT example:

Accounts Receivable Agreement

"I need an Accounts Receivable Agreement for a New Zealand manufacturing company selling its receivables to a local bank, with a facility limit of NZD 5 million and basic security arrangements, to be effective from March 2025."

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Document background
The Accounts Receivable Agreement is a crucial financial instrument used in New Zealand business operations when companies seek to monetize their accounts receivable or obtain financing against their receivables portfolio. This document is particularly relevant in situations where businesses need to improve their working capital position or establish ongoing financing arrangements secured by their receivables. The agreement must comply with New Zealand legal requirements, including the Personal Property Securities Act 1999 and relevant financial services regulations. It typically includes comprehensive provisions covering the sale or financing mechanism, pricing, security arrangements, operational procedures, and risk management frameworks. The document is designed to protect both the financier's interests and the seller's ongoing business operations while ensuring regulatory compliance and commercial practicality.
Suggested Sections

1. Parties: Identifies the parties to the agreement - typically the receivables purchaser/financier and the seller/client

2. Background: Sets out the context of the agreement, including the seller's business and desire to sell/finance receivables

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles

4. Sale and Purchase of Receivables: Core provisions regarding the sale/financing of receivables, including transfer mechanics and pricing

5. Eligibility Criteria: Specifies the criteria that receivables must meet to be eligible for purchase/financing

6. Representations and Warranties: Seller's representations regarding their business, receivables, and authority to enter the agreement

7. Operational Covenants: Ongoing obligations regarding receivables management, collections, and reporting

8. Security and Credit Support: Provisions relating to security interests and registration under the PPSA

9. Events of Default: Lists circumstances constituting default and corresponding remedies

10. Fees and Expenses: Details of all fees, charges, and expense allocation

11. Termination: Provisions for terminating the agreement and post-termination obligations

12. General Provisions: Standard boilerplate clauses including notices, amendments, governing law

Optional Sections

1. Credit Insurance: Required when receivables are covered by credit insurance, detailing insurance requirements and claims process

2. Trust Provisions: Used when collections are held on trust pending settlement

3. Undisclosed Assignment: Included when the assignment of receivables is not disclosed to underlying debtors

4. Cross-Border Provisions: Required when dealing with international receivables or parties

5. Electronic Trading Platform: Needed when using an electronic platform for receivables submission and trading

6. Debtor Concentration Limits: Used when implementing limits on exposure to individual debtors

7. Special Servicing Provisions: Required when third-party servicers are involved in collections

Suggested Schedules

1. Eligibility Criteria Schedule: Detailed list of criteria for acceptable receivables

2. Pricing Schedule: Detailed pricing methodology and calculations

3. Operational Procedures: Detailed procedures for submission, verification, and funding of receivables

4. Form of Offer Notice: Template for offering receivables for sale/financing

5. Form of Assignment: Template deed of assignment for receivables

6. Reporting Requirements: Templates and requirements for periodic reporting

7. Approved Debtor List: List of pre-approved debtors and their credit limits

8. Collection Account Details: Details of designated collection accounts and payment instructions

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

Financial Services

Manufacturing

Wholesale Trade

Retail

Professional Services

Construction

Technology

Healthcare

Agriculture

Transport and Logistics

Mining and Resources

Relevant Teams

Finance

Treasury

Legal

Risk Management

Operations

Credit

Collections

Accounts Receivable

Commercial

Compliance

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Accounts Receivable Manager

Financial Controller

Commercial Director

Legal Counsel

Risk Manager

Operations Manager

Transaction Manager

Portfolio Manager

Relationship Manager

Credit Analyst

Collections 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

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