The Account Receivable Purchase Agreement is a critical document used in Indonesian business transactions when a company wishes to sell its accounts receivable to improve cash flow or transfer credit risk. This agreement, governed by Indonesian law including the Civil Code and OJK regulations, enables businesses to monetize their receivables while providing investors with investment opportunities. It is particularly relevant in trade finance and working capital management, requiring careful consideration of Indonesian secured transaction laws, financial services regulations, and civil law requirements. The document typically includes detailed provisions for the transfer of receivables, pricing mechanisms, representations about the quality of receivables, and ongoing servicing arrangements if applicable.
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1. Parties: Identification of the Seller and Purchaser with their complete legal details
2. Background: Context of the transaction, including the Seller's business and existence of receivables
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core provisions regarding the sale and purchase of the receivables
5. Purchase Price and Payment: Details of the purchase price calculation and payment terms
6. Transfer and Assignment: Mechanism for transferring the receivables from Seller to Purchaser
7. Seller's Representations and Warranties: Warranties regarding the receivables, Seller's authority, and business
8. Purchaser's Representations and Warranties: Warranties regarding Purchaser's authority and capacity
9. Covenants: Ongoing obligations of both parties
10. Conditions Precedent: Conditions that must be satisfied before the agreement becomes effective
11. Notice Requirements: Procedures for notifications to debtors and other parties
12. Default and Remedies: Events of default and available remedies
13. Indemnification: Indemnification obligations of the parties
14. Confidentiality: Provisions regarding confidential information
15. Governing Law and Jurisdiction: Choice of Indonesian law and jurisdiction details
16. Miscellaneous: Standard boilerplate provisions
1. Servicing Arrangements: Used when the Seller continues to service the receivables post-sale
2. Security Arrangements: Include when additional security is provided for the receivables
3. Third Party Consents: Required when third party approvals are needed for the transfer
4. True Sale Provisions: Enhanced provisions to ensure transaction is treated as a true sale rather than financing
5. Regulatory Compliance: Specific provisions addressing compliance with Indonesian financial regulations
6. Data Protection: Include when personal data is involved in the receivables
7. Currency Provisions: Used when the receivables or payments involve foreign currency
8. Electronic Communications: Include when parties agree to use electronic communications for notices
1. Schedule 1 - List of Receivables: Detailed list of all receivables being purchased, including debtor details, amounts, and due dates
2. Schedule 2 - Eligibility Criteria: Criteria that receivables must meet to be eligible for purchase
3. Schedule 3 - Form of Transfer Notice: Template for notices to be sent to debtors regarding the transfer
4. Schedule 4 - Purchase Price Calculation: Detailed methodology for calculating the purchase price
5. Schedule 5 - Conditions Precedent Documents: List of documents required as conditions precedent
6. Schedule 6 - Form of Assignment: Template for the formal assignment document
7. Schedule 7 - Seller's Power of Attorney: Form of power of attorney for Seller to execute necessary documents
8. Appendix A - Reporting Requirements: Templates and requirements for ongoing reporting
9. Appendix B - Service Level Requirements: Details of service levels if servicing is included
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