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Accounts Receivable Assignment Agreement

Accounts Receivable Assignment Agreement Template for New Zealand

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Key Requirements PROMPT example:

Accounts Receivable Assignment Agreement

"I need an Accounts Receivable Assignment Agreement for my manufacturing company to assign $2 million worth of receivables to ABC Finance Limited, with the assignment to be effective from March 1, 2025, and I need to retain servicing rights over the receivables."

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Document background
The Accounts Receivable Assignment Agreement is a crucial document in New Zealand's commercial landscape, used when a business wishes to transfer its accounts receivable to another party, typically for financing purposes or as part of a larger commercial transaction. This agreement is commonly utilized in factoring arrangements, security structures, or business sales. It must comply with New Zealand's Personal Property Securities Act 1999 and other relevant legislation, requiring careful attention to perfection requirements and registration of interests. The document outlines the terms of transfer, purchase price mechanisms, representations and warranties, and operational procedures for managing the assigned receivables. It's particularly relevant in situations where businesses seek to improve cash flow, transfer risk, or restructure their financial arrangements.
Suggested Sections

1. Parties: Identifies and provides full legal details of the Assignor and Assignee

2. Background: Sets out the context of the agreement, including the existence of the receivables and the intention to assign them

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

4. Assignment: Core provision detailing the assignment of the receivables from Assignor to Assignee

5. Consideration: Specifies the payment or other consideration for the assignment

6. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, and status of receivables

7. Perfection of Assignment: Requirements for registering and perfecting the assignment, including PPSA requirements

8. Notice and Communication: Provisions regarding notification to debtors and communication requirements

9. Collection and Administration: Specifies who will collect the receivables and how they will be administered

10. Payment and Settlement: Details how payments will be processed and settled between parties

11. Indemnities: Protections and indemnities provided between the parties

12. Confidentiality: Obligations regarding confidential information and data protection

13. Dispute Resolution: Procedures for handling disputes between the parties

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

Optional Sections

1. Security Interest: Required if the assignment is intended to create a security interest rather than an absolute assignment

2. Recourse Provisions: Included when the assignment is with recourse to the Assignor

3. Credit Enhancement: Used when additional credit support or guarantees are provided

4. Servicing Arrangements: Required if the Assignor will continue to service the receivables

5. True Sale Provisions: Important for securitization transactions to establish true sale character

6. Cross-Border Provisions: Required when receivables or parties involve multiple jurisdictions

7. Consumer Protection Compliance: Needed when receivables involve consumer debtors

8. GST Provisions: Required when GST implications need to be specifically addressed

Suggested Schedules

1. Schedule 1 - Assigned Receivables: Detailed list and description of all receivables being assigned

2. Schedule 2 - Purchase Price Calculation: Formula and methodology for calculating the purchase price

3. Schedule 3 - Form of Notice to Debtors: Template notice to be sent to debtors regarding the assignment

4. Schedule 4 - Eligibility Criteria: Criteria that receivables must meet to be included in the assignment

5. Schedule 5 - Collection Procedures: Detailed procedures for collecting and administering the receivables

6. Schedule 6 - Required Documents: List of documents required for completion of the assignment

7. Appendix A - Power of Attorney: Form of power of attorney if required for collection or administration

8. Appendix B - Compliance Certificates: Forms of compliance certificates required under the agreement

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

Construction

Professional Services

Healthcare

Technology

Transportation and Logistics

Agriculture

Energy

Relevant Teams

Finance

Legal

Treasury

Credit Control

Accounts Receivable

Risk Management

Commercial

Operations

Collections

Corporate Finance

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Accounts Receivable Manager

Financial Controller

Commercial Director

Legal Counsel

Risk Manager

Collections Manager

Business Development Manager

Corporate Finance Manager

Factoring Manager

Trade Finance 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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