Assignment of Receivables
Assignment of receivables is an agreement whereby the borrower assigns accounts receivable to the lending institution. In exchange for this assignment of accounts receivable, the borrower receives a loan for the accounts receivable.
ASSIGNMENT OF RECEIVABLES
Article 1. Definitions
Article 2. Commencement and duration
Article 3. Purchase of Receivables
Article 4. Purchase price
Article 5. Payment to the Seller
Article 6. Collection of Receivables
Article 7. Notice to Debtors
Article 8. Title to Goods
Article 9. Power of Attorney
Article 10. Charges
Article 11. Warranty and Undertakings
Article 12. Information and Records
Article 13. Repurchase
Article 14. Termination rights
Article 15. Indemnity
Article 16. Set-off
Article 17. Assignment
Article 18. Data Protection
Article 19. Entire Agreement
Article 20. Amendments
Article 21. Severability
Article 22. Force Majeure
Article 23. No Implied Waiver
Article 24. Notices
Article 25. Costs
Article 26. Copies
Article 27. Non-reliance
Article 28. Interpretation
Article 29. Governing law
Article 30. Dispute Resolution