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Legal Templates
Master Factoring Agreement

Master Factoring Agreement Template for Singapore

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Key Requirements PROMPT example:

Master Factoring Agreement

"Need a Master Factoring Agreement under Singapore law for our manufacturing company to sell receivables to ABC Finance Ltd, with a facility limit of SGD 10 million and both recourse and non-recourse options, to be effective from March 2025."

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What is a Master Factoring Agreement?

The Master Factoring Agreement is a comprehensive legal framework used when a business seeks ongoing financing through the sale of its receivables. This agreement, governed by Singapore law, establishes the foundation for multiple transactions without the need for separate agreements for each sale. It addresses key aspects including pricing mechanisms, risk allocation, operational procedures, and compliance with Singapore's financial regulations. The Master Factoring Agreement is particularly relevant for businesses seeking to improve working capital management through a structured receivables financing program.

What sections should be included in a Master Factoring Agreement?

1. Parties: Identification of the Factor and the Client/Seller

2. Background: Context of the factoring arrangement and business relationship

3. Definitions: Key terms used throughout the agreement including definitions of Receivables, Eligible Receivables, Purchase Price, etc.

4. Assignment of Receivables: Core provisions regarding the transfer of receivables, including assignment mechanics and perfection requirements

5. Purchase Price and Payment Terms: Pricing structure, payment mechanisms, and calculation of advance rates and fees

6. Representations and Warranties: Standard assurances from both parties regarding capacity, authority, and receivables quality

7. Covenants: Ongoing obligations of the parties including reporting requirements and operational procedures

8. Events of Default: Circumstances constituting breach and consequences of default

9. Term and Termination: Duration of the agreement and circumstances for termination

What sections are optional to include in a Master Factoring Agreement?

1. Credit Insurance: Provisions relating to credit insurance arrangements for cross-border or high-risk receivables

2. Electronic Processing: Provisions for electronic submission and processing of receivables through digital platforms

3. Recourse Provisions: Detailed provisions specifying circumstances where factor has recourse against the client

What schedules should be included in a Master Factoring Agreement?

1. Schedule 1 - Eligibility Criteria: Detailed criteria for acceptable receivables and excluded receivables

2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all applicable fees, charges and commissions

3. Schedule 3 - Form of Assignment Notice: Standard template for notifying debtors of the assignment

4. Schedule 4 - Operational Procedures: Detailed procedures for submission, verification and processing of receivables

5. Schedule 5 - Approved Debtor List: List of pre-approved debtors with their respective credit limits

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

alex.den.21@genieai.co
Relevant legal definitions
















































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Industries

Civil Law Act (Cap. 43): Primary legislation governing civil law matters in Singapore, including general contract principles and remedies

Contracts Act (Cap. 53): Fundamental legislation governing formation and enforcement of contracts in Singapore

Assignment of Receivables Act 2020: Specific legislation governing the assignment of receivables, crucial for factoring arrangements

Companies Act (Cap. 50): Regulates corporate entities and their operations, including requirements for corporate transactions

Banking Act (Cap. 19): Regulates banking institutions and certain financial activities in Singapore

Moneylenders Act (Cap. 188): Governs money lending activities and related financial transactions

Securities and Futures Act (Cap. 289): Regulates securities trading and financial instruments, which may apply to certain factoring arrangements

Financial Advisers Act (Cap. 110): Governs the provision of financial advisory services and related activities

Consumer Protection (Fair Trading) Act: Ensures fair trading practices and protects consumer interests in commercial transactions

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data in commercial transactions

Unfair Contract Terms Act: Regulates unfair terms in contracts and protects parties from unreasonable contract provisions

AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations for financial transactions

MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore for financial activities

Stamp Duties Act (Cap. 312): Governs stamp duties payable on certain documents and transactions in Singapore

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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