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Accounts Receivable Purchase Agreement for Germany

Accounts Receivable Purchase Agreement Template for Germany

A comprehensive legal agreement governed by German law that establishes the terms and conditions for the sale and purchase of accounts receivable. The document details the mechanism for transferring trade receivables from a seller to a purchaser, typically a financial institution or factoring company, including pricing mechanisms, eligibility criteria, representations and warranties, servicing arrangements, and regulatory compliance requirements under German commercial and banking laws. It incorporates specific provisions required under German civil law for the valid assignment of receivables (Forderungsabtretung) and addresses relevant EU regulations, particularly regarding data protection and cross-border transactions.

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What is a Accounts Receivable Purchase Agreement?

The Accounts Receivable Purchase Agreement is a vital financial instrument used in German commercial practice to facilitate working capital financing and liquidity management. It enables companies to monetize their accounts receivable by selling them to financial institutions or specialized purchasers, thereby improving cash flow and reducing credit risk. The agreement must comply with German civil law requirements, particularly the provisions of the Bürgerliches Gesetzbuch (BGB) regarding assignments, the Handelsgesetzbuch (HGB) for commercial aspects, and relevant banking regulations if the purchaser is a financial institution. The document typically includes detailed provisions on purchase mechanics, servicing arrangements, representations about the receivables' quality, and compliance with German and EU regulatory requirements, including data protection laws. It's particularly useful for companies seeking alternative financing solutions or wanting to optimize their working capital management through off-balance-sheet financing structures.

What sections should be included in a Accounts Receivable Purchase Agreement?

1. Parties: Identification of the Seller and Purchaser with full legal entity details

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

3. Definitions and Interpretation: Defined terms, interpretation rules, and currency conventions

4. Sale and Purchase: Core provisions for the sale and assignment of receivables, including purchase price calculation

5. Eligibility Criteria: Criteria that receivables must meet to be eligible for purchase

6. Purchase Mechanics: Operational procedures for offering and purchasing receivables, including timing and delivery requirements

7. Representations and Warranties: Seller's representations regarding the receivables and both parties' general representations

8. Servicing and Collections: Arrangements for servicing the receivables and collecting payments from debtors

9. Payment and Settlement: Terms for payment of purchase price and settlement of amounts between parties

10. Recourse and Repurchase: Circumstances requiring repurchase of receivables by the seller

11. Information and Reporting: Reporting requirements and information sharing obligations

12. Tax and VAT: Treatment of tax matters and VAT considerations

13. Confidentiality: Provisions regarding confidential information and data protection

14. Events of Default: Circumstances constituting default and consequences

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

16. Miscellaneous: Standard boilerplate provisions including notices, amendments, and governing law

What sections are optional to include in a Accounts Receivable Purchase Agreement?

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

2. Currency Conversion: Needed for cross-border transactions involving multiple currencies

3. Security Interest: Include when additional security is required beyond the assignment

4. Third-Party Servicer: Required when servicing is outsourced to a third party

5. Portfolio Concentration Limits: Include for programs with diversity requirements

6. Electronic Trading Platform: Needed when using an electronic platform for receivables trading

7. True Sale Opinion: Required for transactions needing bankruptcy remoteness

8. Data Protection: Expanded section required for transactions involving substantial personal data

What schedules should be included in a Accounts Receivable Purchase Agreement?

1. Form of Assignment: Template for the formal assignment of receivables

2. Form of Offer: Standard form for offering receivables for purchase

3. Eligibility Criteria Details: Detailed specifications of eligibility requirements

4. Operating Procedures: Detailed procedures for daily operations and reporting

5. Approved Debtor List: List of approved debtors and their credit limits

6. Pricing Schedule: Detailed pricing calculations and adjustments

7. Form of Reports: Templates for required reporting

8. Notice Details: Contact information for notices

9. Form of Debtor Notification: Template for notifying debtors of the assignment

10. Data Protection Requirements: Detailed data protection procedures and requirements

Authors

Alex Denne

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

Jurisdiction

Germany

Publisher

Ƶ

Document Type

Financing Agreement

Cost

Free to use
Relevant legal definitions
































































Clauses




































Relevant Industries

Banking & Financial Services

Manufacturing

Retail

Wholesale & Distribution

Technology

Automotive

Industrial

Healthcare

Construction

Energy

Telecommunications

Consumer Goods

Professional Services

Relevant Teams

Legal

Finance

Treasury

Accounts Receivable

Credit Control

Risk Management

Compliance

Operations

Trade Finance

Working Capital Management

Relevant Roles

Chief Financial Officer

Treasury Manager

Finance Director

Legal Counsel

Corporate Lawyer

Accounts Receivable Manager

Credit Controller

Financial Controller

Risk Manager

Compliance Officer

Working Capital Manager

Trade Finance Manager

Portfolio Manager

Structured Finance Manager

Operations 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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