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Receivables Transfer Agreement

Receivables Transfer Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Receivables Transfer Agreement

"I need a Receivables Transfer Agreement under Saudi law for my manufacturing company to transfer a portfolio of trade receivables (approximately 50 invoices worth SAR 2 million) to a local bank, with the transfer scheduled for March 2025 and including third-party collection agent provisions."

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Document background
The Receivables Transfer Agreement is a crucial document used in Saudi Arabian commercial transactions when a party wishes to transfer its rights to receive payments from its debtors to another party. This agreement is particularly important in trade finance, factoring, and securitization transactions, requiring careful structuring to ensure compliance with both Shariah principles and Saudi commercial regulations. The document must address specific Saudi legal requirements including notarization procedures, regulatory approvals, and Islamic finance principles prohibiting conventional interest (riba) and excessive uncertainty (gharar). It typically includes detailed provisions on the transfer mechanism, notification requirements, warranties regarding the receivables, and enforcement procedures that align with Saudi Arabian law and commercial practice.
Suggested Sections

1. Parties: Identification of the Transferor (Assignor) and Transferee (Assignee), including full legal names and registration details

2. Background: Context of the transfer, relationship between parties, and purpose of the agreement

3. Definitions: Key terms used throughout the agreement, including 'Receivables', 'Obligors', 'Transfer Date', and 'Related Rights'

4. Transfer and Assignment: Core provisions detailing the transfer of receivables, consideration, and effective date

5. Compliance with Shariah Principles: Specific provisions ensuring the transfer mechanism complies with Islamic law principles

6. Representations and Warranties: Transferor's warranties regarding ownership, right to transfer, and status of receivables

7. Notification Requirements: Procedures for notifying obligors of the transfer and perfection requirements

8. Payment Provisions: Details of payment mechanics, bank accounts, and treatment of received payments

9. Covenants: Ongoing obligations of the parties, including delivery of documents and maintenance of records

10. Events of Default: Circumstances constituting default and consequential rights

11. Governing Law and Jurisdiction: Confirmation of Saudi law governance and jurisdiction of Saudi courts

12. Notices: Communication procedures between parties

13. General Provisions: Standard boilerplate clauses adapted for Saudi law requirements

Optional Sections

1. Security Provisions: Additional security arrangements if the transfer is secured - include when additional collateral is provided

2. Credit Enhancement: Additional credit support mechanisms - include when required by the Transferee

3. True Sale Provisions: Specific provisions confirming true sale nature - include when transfer is intended as a true sale rather than security

4. Recourse Provisions: Terms of any recourse against the Transferor - include when partial or full recourse is negotiated

5. Collection Agency Arrangements: Terms for third-party collection services - include when external collection agents are involved

6. Regulatory Compliance: Specific regulatory requirements - include when either party is a regulated entity

7. Data Protection: Provisions regarding handling of personal data - include when transfer involves personal data of obligors

Suggested Schedules

1. Schedule 1 - Receivables Schedule: Detailed list of receivables being transferred, including obligor details, amounts, and due dates

2. Schedule 2 - Form of Transfer Notice: Template notice to be sent to obligors informing them of the transfer

3. Schedule 3 - Eligibility Criteria: Criteria that receivables must meet to be eligible for transfer

4. Schedule 4 - Payment Account Details: Specified accounts for payments and transfers

5. Schedule 5 - Required Documents: List of documents to be delivered for perfecting the transfer

6. Appendix A - Power of Attorney: Form of power of attorney for enforcement purposes

7. Appendix B - Compliance Certificates: Forms of compliance certificates required under Saudi law

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 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












































Clauses































Relevant Industries

Banking and Financial Services

Manufacturing

Retail

Healthcare

Construction

Energy and Utilities

Telecommunications

Professional Services

Trading and Distribution

Real Estate

Technology

Industrial Services

Relevant Teams

Legal

Finance

Treasury

Accounts Receivable

Credit Control

Compliance

Risk Management

Commercial

Islamic Finance

Corporate Finance

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Accounts Receivable Manager

Credit Controller

Legal Counsel

Compliance Officer

Commercial Director

Risk Manager

Financial Controller

Business Development Manager

Contract Manager

Islamic Finance Specialist

Corporate Finance 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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