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Prepayment Agreement

Prepayment Agreement Template for Switzerland

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Key Requirements PROMPT example:

Prepayment Agreement

"I need a Swiss law Prepayment Agreement for a manufacturing equipment purchase where my company will make quarterly advance payments starting March 2025, with bank guarantee protection and specific provisions for delivery milestones."

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Document background
The Prepayment Agreement is utilized in commercial transactions where one party requires advance payment before delivering goods or services. This document is particularly important in industries with significant upfront costs or long production cycles. Under Swiss law, the agreement provides legal certainty by clearly defining the rights and obligations of both parties, including payment terms, delivery schedules, and consequences of default. The document typically includes security arrangements to protect the prepaying party's interests and specific provisions addressing force majeure, termination rights, and dispute resolution. The choice of Swiss law offers parties a neutral, stable, and well-developed legal framework, particularly advantageous for international commercial transactions.
Suggested Sections

1. Parties: Identification and details of the parties entering into the agreement

2. Background: Context of the agreement and brief description of the business relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Prepayment Amount and Terms: Specification of the prepayment amount, currency, and payment terms

5. Delivery Obligations: Details of goods/services to be delivered in exchange for prepayment

6. Payment Schedule: Timing and structure of prepayment(s) and any subsequent payments

7. Security and Guarantees: Any security arrangements or guarantees securing the prepayment

8. Representations and Warranties: Standard representations and specific warranties related to the prepayment arrangement

9. Events of Default: Circumstances constituting default and consequences

10. Termination: Termination rights and procedures

11. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction

12. Notices: Communication procedures between parties

13. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, etc.

Optional Sections

1. Interest: Terms for interest on prepaid amounts, if applicable

2. Foreign Exchange Provisions: Required for international transactions involving multiple currencies

3. Force Majeure: Provisions for unforeseen circumstances affecting performance

4. Compliance with Laws: Specific regulatory compliance requirements, particularly relevant for regulated industries

5. Assignment and Transfer: Rights and restrictions regarding transfer of rights under the agreement

6. Confidentiality: Protection of confidential information, if not covered in a separate NDA

7. Tax Provisions: Specific tax considerations and allocations, particularly for international transactions

8. Insurance: Insurance requirements for either party, if relevant to the transaction

Suggested Schedules

1. Payment Schedule: Detailed schedule of payment amounts, dates, and methods

2. Goods/Services Specification: Detailed description of goods/services to be delivered

3. Security Documents: Forms of any security or guarantee documents

4. Bank Account Details: Payment account information for both parties

5. Form of Notices: Standard forms for key notices under the agreement

6. Performance Milestones: Detailed timeline of delivery or performance milestones

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Advance Payment
Banking Day
Business Day
Conditions Precedent
Contract Price
Default Interest Rate
Delivery Date
Delivery Location
Delivery Schedule
Effective Date
Event of Default
Force Majeure Event
Goods
Governing Law
Interest Rate
Material Adverse Change
Payment Date
Payment Schedule
Prepayment Amount
Prepayment Date
Purchase Price
Purchaser
Relevant Currency
Security
Security Documents
Services
Specifications
Supplier
Term
Termination Date
Warranty Period
Working Day
Relevant Industries

Manufacturing

Construction

Technology

Energy

Commodities Trading

Industrial Equipment

Pharmaceutical

Telecommunications

Real Estate Development

Renewable Energy

Agriculture

Automotive

Aviation

Relevant Teams

Legal

Finance

Procurement

Treasury

Risk Management

Commercial Operations

Supply Chain

Credit Control

Accounts Payable

Contract Administration

Relevant Roles

Chief Financial Officer

Commercial Director

Procurement Manager

Legal Counsel

Contract Manager

Treasury Manager

Finance Director

Supply Chain Manager

Risk Manager

Business Development Manager

Credit Controller

Operations Director

Chief Operating Officer

Accounts Payable Manager

Project Manager

Industries
Swiss Code of Obligations (OR): Primary source of Swiss contract law, containing fundamental principles of contract formation, performance, and breach. Articles 1-40 (general provisions), Articles 68-96 (payment obligations), and Articles 82-83 (right to withhold performance) are particularly relevant.
Swiss Civil Code (ZGB): Contains basic legal principles and supplements the Code of Obligations, particularly Article 2 regarding good faith in contractual relations.
Swiss Federal Act on Consumer Credit (KKG): Relevant if the prepayment agreement involves consumer credit arrangements or installment payments by consumers.
Swiss Federal Act on Banks and Savings Banks: Applicable if the prepayment agreement involves banking institutions or banking-like transactions.
Swiss Debt Enforcement and Bankruptcy Act (SchKG): Governs enforcement procedures and remedies in case of default or non-performance of payment obligations.
Swiss Federal Act on Unfair Competition (UWG): Relevant for ensuring fair business practices and protecting against unfair contract terms, particularly in consumer contracts.
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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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