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Receivables Sale Agreement Template for Ireland

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Key Requirements PROMPT example:

Receivables Sale Agreement

"I need a Receivables Sale Agreement under Irish law for the sale of trade receivables from our manufacturing business to a bank, with the seller continuing to service the receivables and collect payments from customers."

Document background
This Receivables Sale Agreement is designed for use in transactions where one entity wishes to sell its accounts receivable to another entity, typically for financing or cash flow management purposes. The document is structured to comply with Irish law requirements and includes essential provisions for creating a legally valid transfer of receivables, addressing aspects such as true sale characteristics, perfection requirements, and debtor notification procedures. It's commonly used in various financing arrangements, including factoring, securitization, and trade finance transactions. The agreement includes detailed schedules identifying the receivables, purchase price calculations, and form documents for implementing the sale. It incorporates necessary provisions to comply with Irish regulatory requirements, including data protection and financial services regulations where applicable.
Suggested Sections

1. Parties: Identification of the Seller and Purchaser with full legal names and registered addresses

2. Background: Context of the transaction, nature of the receivables, and purpose of the agreement

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Sale and Purchase: Core terms of the sale including purchase price, payment mechanics, and effective date

5. Conditions Precedent: Conditions that must be satisfied before the sale becomes effective

6. Representations and Warranties: Seller's representations about the receivables and their business

7. Perfection Requirements: Actions required to perfect the sale and transfer of receivables

8. Notice and Acknowledgment: Requirements for notifying debtors and obtaining acknowledgments

9. Covenants: Ongoing obligations of the parties

10. Events of Default: Circumstances constituting default and consequences

11. Indemnification: Indemnity provisions protecting parties against specified losses

12. Confidentiality: Provisions protecting confidential information

13. Data Protection: GDPR compliance and data handling requirements

14. Governing Law and Jurisdiction: Confirmation of Irish law governance and jurisdiction

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

Optional Sections

1. Servicing Arrangements: Include when the seller will continue to service the receivables post-sale

2. Security Interest: Include when additional security is being granted over the receivables

3. True Sale Provisions: Enhanced provisions when true sale characterization is crucial

4. Credit Enhancement: Include when there are guarantees or other credit enhancement features

5. Multiple Sale Mechanics: Include for agreements allowing multiple sales over time

6. Regulatory Compliance: Include specific provisions when receivables are regulated assets

7. Back-up Servicing: Include when a back-up servicer is appointed

8. Purchase Price Adjustments: Include when price adjustments may be needed post-sale

Suggested Schedules

1. Schedule 1 - Receivables List: Detailed list and description of the receivables being sold

2. Schedule 2 - Eligibility Criteria: Criteria that receivables must meet to be eligible for sale

3. Schedule 3 - Form of Transfer Notice: Template for notices to be sent to debtors

4. Schedule 4 - Form of Assignment: Legal form of assignment document

5. Schedule 5 - Conditions Precedent Documents: List of required documents and conditions

6. Schedule 6 - Servicing Requirements: Detailed servicing obligations if applicable

7. Schedule 7 - Purchase Price Calculation: Methodology for calculating the purchase price

8. Schedule 8 - Form of Compliance Certificate: Template for ongoing compliance certification

9. Appendix A - Key Contact Information: Contact details for notices and operational matters

Authors

Alex Denne

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

Relevant legal definitions































































Clauses







































Relevant Industries

Financial Services

Banking

Manufacturing

Wholesale Distribution

Retail

Technology

Healthcare

Construction

Professional Services

Telecommunications

Energy

Utilities

Relevant Teams

Legal

Finance

Treasury

Accounts Receivable

Credit Control

Risk Management

Compliance

Operations

Corporate Finance

Commercial

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Accounts Receivable Manager

Credit Controller

Legal Counsel

Commercial Director

Risk Manager

Compliance Officer

Operations Director

Financial Controller

Business Development Manager

Contract Manager

Corporate Finance Manager

Transaction 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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