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Deed Of Assignment Of Receivables
"I need a Deed of Assignment of Receivables to transfer $2.5M in construction industry receivables from my Ontario-based company to ABC Financial Ltd as security for a new credit facility, with the assignment to be effective from March 1, 2025."
1. Parties: Identification of Assignor and Assignee with full legal names and addresses
2. Background: Context of the assignment, relationship between parties, and purpose of the deed
3. Definitions and Interpretation: Definitions of key terms including Receivables, Debtors, Related Rights, and interpretation clauses
4. Assignment: Core provisions effecting the transfer of the receivables from Assignor to Assignee
5. Consideration: Details of 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. Further Assurance: Obligations to execute further documents and take additional steps if needed
8. Power of Attorney: Appointment of Assignee as Assignor's attorney to perfect the assignment
9. Notices: Process for giving notices under the deed and to debtors
10. Governing Law and Jurisdiction: Specification of applicable law and courts
11. Execution: Execution blocks meeting requirements for a deed
1. Security Interest Provisions: Required if the assignment is by way of security rather than absolute
2. Collections and Payment Mechanics: Required if specific payment arrangements or collection procedures need to be established
3. Regulatory Compliance: Required if the receivables are subject to specific regulatory requirements
4. Data Protection: Required if personal data is involved in the assigned receivables
5. Foreign Law Requirements: Required if receivables or debtors are in multiple jurisdictions
6. Continuing Obligations: Required if ongoing servicing or reporting obligations exist
7. Tax Provisions: Required if specific tax treatments or obligations need to be addressed
8. Anti-assignment Prohibitions: Required if dealing with receivables that may have assignment restrictions
1. Schedule of Receivables: Detailed list of all receivables being assigned, including debtor details, amounts, and due dates
2. Form of Notice to Debtors: Template notice to be sent to debtors informing them of the assignment
3. Form of Acknowledgment: Template acknowledgment for debtors to confirm receipt of assignment notice
4. Related Contracts: List or copies of contracts from which the receivables arise
5. Registration Requirements: Details of PPSA and other registration requirements and forms
6. Payment Instructions: Details of bank accounts and payment procedures for assigned receivables
Authors
Banking and Financial Services
Manufacturing
Wholesale Trade
Retail
Construction
Healthcare
Technology
Professional Services
Transportation and Logistics
Energy and Utilities
Telecommunications
Agriculture
Legal
Finance
Treasury
Accounts Receivable
Credit Control
Risk Management
Compliance
Commercial Operations
Corporate Finance
Chief Financial Officer
Finance Director
Treasury Manager
Credit Controller
Accounts Receivable Manager
Legal Counsel
Commercial Director
Risk Manager
Financial Controller
Business Development Manager
Corporate Finance Manager
Compliance Officer
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