Assignment of Accounts Receivable With Recourse

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Assignment of Accounts Receivable With Recourse

Assignment of Accounts Receivable With Recourse

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

ASSIGNMENT OF ACCOUNTS RECEIVABLE WITH RECOURSE

PARTIES

This Assignment of Accounts Receivable With Recourse (the 'Agreement') is made and entered into as of {{date}} (the 'Effective Date'), by and between:

{{Assignor_Company_Name}}, a company incorporated under the laws of {{country}}, with its principal place of business at {{Assignor_Address}} (the 'Assignor'); and

{{Assignee_Company_Name}}, a company incorporated under the laws of {{country}}, with its principal place of business at {{Assignee_Address}} (the 'Assignee').

RECITALS

WHEREAS, the Assignor is engaged in the business of {{assignor_business_description}} and possesses certain accounts receivable arising from the sale of goods/services to its customers;

WHEREAS, the Assignor desires to assign, and the Assignee desires to acquire, certain accounts receivable on a 'with recourse' basis, subject to the terms and conditions hereinafter set forth.

ASSIGNMENT

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Assignor hereby irrevocably assigns, transfers, and conveys to the Assignee all of its right, title, and interest in and to the accounts receivable listed in Schedule A attached hereto (the 'Assigned Receivables'), including all proceeds thereof and all rights related thereto.

The total face value of the Assigned Receivables is {{currency_symbol}}{{total_receivables_amount}}.

PURCHASE PRICE AND PAYMENT

In consideration for the assignment of the Assigned Receivables, the Assignee shall pay the Assignor an amount equal to {{percentage_of_face_value}}% of the total face value of the Assigned Receivables, which amounts to {{currency_symbol}}{{purchase_price}} (the 'Purchase Price').

The Purchase Price shall be paid by the Assignee to the Assignor on or before {{payment_date}}.

RECOURSE PROVISION

The Assignor unconditionally guarantees the payment in full of the Assigned Receivables to the Assignee. In the event that any portion of the Assigned Receivables remains unpaid by the respective customer(s) by {{recourse_date}} or becomes uncollectible for any reason whatsoever, the Assignor shall, within {{number_of_days}} days of written demand from the Assignee, repurchase such unpaid or uncollectible receivables from the Assignee for an amount equal to their face value, or otherwise compensate the Assignee for any losses incurred.

The Assignor further agrees to reimburse the Assignee for any expenses, including legal fees, incurred by the Assignee in attempting to collect the Assigned Receivables or in enforcing this recourse provision.

REPRESENTATIONS AND WARRANTIES OF ASSIGNOR

The Assignor hereby represents and warrants to the Assignee that:

a) The Assigned Receivables are genuine, valid, legally enforceable obligations, and are not subject to any disputes, counterclaims, set-offs, or deductions.

b) The Assignor has good title to the Assigned Receivables and has the full right and authority to assign them to the Assignee free and clear of all liens, encumbrances, and adverse claims.

c) All information provided to the Assignee concerning the Assigned Receivables and the respective customers is true, accurate, and complete.

d) The Assignor is not aware of any facts or circumstances that would impair the collectibility of the Assigned Receivables.

COVENANTS OF ASSIGNOR

The Assignor covenants and agrees that it shall:

a) Cooperate fully with the Assignee in the collection of the Assigned Receivables.

b) Notify the Assignee immediately of any dispute, counterclaim, or offset asserted by any customer related to the Assigned Receivables.

c) Remit to the Assignee immediately upon receipt any payments received by the Assignor on account of the Assigned Receivables.

d) Not amend, modify, waive, or release any terms of the underlying agreements giving rise to the Assigned Receivables without the prior written consent of the Assignee.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of {{country}}, without regard to its conflict of laws principles.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.

IN WITNESS WHEREOF

The Parties hereto have executed this Assignment of Accounts Receivable With Recourse as of the Effective Date first above written.

ASSIGNOR

_____________________________

By: {{Assignor_Signatory_Name}}

Title: {{Assignor_Signatory_Title}}

Date: {{signature_date}}

ASSIGNEE

_____________________________

By: {{Assignee_Signatory_Name}}

Title: {{Assignee_Signatory_Title}}

Date: {{signature_date}}

SCHEDULE A: LIST OF ACCOUNTS RECEIVABLE

| Customer Name | Invoice Number | Invoice Date | Due Date | Amount ({{currency_symbol}}) |

|---------------|----------------|--------------|----------|-----------------------|

| {{customer_1_name}} | {{invoice_1_number}} | {{invoice_1_date}} | {{due_1_date}} | {{invoice_1_amount}} |

| {{customer_2_name}} | {{invoice_2_number}} | {{invoice_2_date}} | {{due_2_date}} | {{invoice_2_amount}} |

| ... | ... | ... | ... | ... |