All Countries
Banking
Notice Of Assignment Of Accounts Receivable

Notice Of Assignment Of Accounts Receivable Template for India

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Notice Of Assignment Of Accounts Receivable

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Notice Of Assignment Of Accounts Receivable

"I need a Notice of Assignment of Accounts Receivable for transferring a single manufacturing invoice worth ₹500,000 from my company to ABC Finance Ltd, with the debtor being XYZ Industries; the original invoice is dated January 15, 2025."

Celebrated by
Collaborations with
Investors
Document background
The Notice of Assignment of Accounts Receivable is a crucial document in Indian business transactions where a creditor transfers their right to receive payment to another party. This document is commonly used in factoring arrangements, debt sales, or business restructuring scenarios. Under Indian law, while an assignment of receivables can be valid between the assignor and assignee without notice, proper notification to the debtor is essential to establish the assignee's rights and ensure legal enforceability. The notice must comply with the Transfer of Property Act, 1882, and related regulations, containing specific details about the original debt, the assignment, and new payment instructions. It's particularly important in scenarios where businesses need to maintain cash flow through receivables financing or when restructuring their debt obligations.
Suggested Sections

1. Date and Address Block: Current date and full contact details of the debtor (recipient)

2. Reference Line: Clear reference to the original agreement/invoice number and date

3. Notice Subject: Clear heading indicating this is a Notice of Assignment of Accounts Receivable

4. Opening Statement: Formal opening identifying the assignor (original creditor) and the assignment to the assignee

5. Original Debt Details: Description of the original agreement/invoice and the amount of receivables being assigned

6. Assignment Declaration: Clear statement of the assignment, including the effective date

7. Payment Instructions: New payment details and instructions for future payments to the assignee

8. Acknowledgment Request: Request for the debtor to acknowledge receipt of the notice

9. Contact Information: Details for any queries or correspondence regarding the assignment

10. Signature Block: Signatures of both assignor and assignee

Optional Sections

1. Multiple Receivables Statement: Include when the assignment covers multiple invoices or receivables

2. Partial Assignment Details: Required when only a portion of the receivables is being assigned

3. Special Payment Terms: Include if there are specific payment arrangements or conditions

4. Governing Law Statement: Include when dealing with inter-state or international assignments

5. No-Set-Off Clause: Include when the assignor wants to prevent the debtor from setting off claims

6. Confidentiality Statement: Include when the assignment contains sensitive commercial information

Suggested Schedules

1. Schedule A - Details of Assigned Receivables: Detailed list of all receivables being assigned, including invoice numbers, dates, and amounts

2. Schedule B - Copy of Original Agreement/Invoice: Copy or details of the original agreement or invoice creating the receivable

3. Schedule C - Assignment Agreement Extract: Relevant extract from the assignment agreement (if required)

4. Schedule D - Payment Instructions: Detailed banking or payment information for future payments

5. Appendix 1 - Acknowledgment Form: Form for the debtor to sign and return confirming receipt of the notice

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 Industries

Banking and Financial Services

Manufacturing

Wholesale Trade

Retail

Construction

Information Technology

Healthcare

Professional Services

Logistics and Transportation

Real Estate

Energy and Utilities

Telecommunications

Relevant Teams

Legal

Finance

Accounts Receivable

Treasury

Credit Control

Collections

Risk Management

Company Secretariat

Commercial Operations

Business Development

Relevant Roles

Chief Financial Officer

Finance Manager

Accounts Receivable Manager

Credit Controller

Legal Counsel

Company Secretary

Treasury Manager

Financial Controller

Credit Manager

Accounts Manager

Collections Manager

Finance Director

Risk Manager

Business Development Manager

Contract Manager

Industries
Transfer of Property Act, 1882: Sections 130-138 specifically deal with the assignment of actionable claims, including accounts receivable. These sections outline the procedure for assignment and the rights of the assignee.
Indian Contract Act, 1872: Governs the basic principles of contract formation, validity, and enforcement. Sections 10-30 are particularly relevant for ensuring the assignment agreement meets basic contract requirements.
Registration Act, 1908: Relevant for determining whether the assignment needs to be registered, especially if the assignment value exceeds ₹100 and involves immovable property or requires registration under state laws.
Reserve Bank of India Act, 1934: Contains regulations regarding assignment of receivables involving banks and financial institutions, particularly relevant if either party is a banking entity.
Central Goods and Services Tax Act, 2017: Addresses the tax implications of assignment of receivables, particularly regarding the treatment of GST on assigned invoices and the responsibilities of the parties involved.
Factoring Regulation Act, 2011: Regulates assignment of receivables to factoring companies and provides framework for factoring business in India.
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

Find the exact document you need

Deed Of Assignment Of Shares

An Indian law-governed deed that legally transfers share ownership from one party to another, complying with Companies Act 2013 requirements.

find out more

Current Account Agreement

An Indian law-governed agreement between a bank and customer establishing terms and conditions for current account operations, compliant with RBI guidelines and banking regulations.

find out more

ACH Debit Agreement

An Indian law-governed agreement authorizing automated clearing house (ACH) debit transactions, compliant with RBI guidelines and banking regulations.

find out more

Bookkeeping Contract

An Indian law-governed agreement establishing terms and conditions for professional bookkeeping services, including scope, responsibilities, and compliance requirements.

find out more

Personal Deposit Account Agreement

A standard banking agreement governing personal deposit accounts in India, compliant with RBI regulations and banking laws.

find out more

ACH Vendor Payment Authorization Agreement

An agreement authorizing electronic vendor payments through ACH under Indian banking regulations and RBI guidelines.

find out more

Tripartite Agreement For Escrow Account

An Indian law-governed agreement between three parties establishing an escrow arrangement for secure funds management through a bank as escrow agent.

find out more

Checking Account Agreement

An Indian law-governed agreement establishing terms and conditions for operating a checking account between a bank and its customer, compliant with RBI guidelines and banking regulations.

find out more

Loan Account Agreement

An Indian law-governed agreement establishing terms and conditions between a lender and borrower for a loan facility, including principal, interest, repayment, and security arrangements.

find out more

Joint Holder Agreement

An Indian law-governed agreement establishing rights and responsibilities between joint holders of assets, accounts, or property.

find out more

Account Purchase Agreement

An Indian law-governed agreement establishing terms for the purchase and sale of accounts receivable, including pricing, operational procedures, and compliance requirements.

find out more

ACH Authorization Agreement

An Indian-law governed agreement authorizing automated electronic fund transfers through the National Automated Clearing House (NACH) system, establishing terms for recurring payments between parties.

find out more

Operating Agreement For Bank Account

An agreement governing bank account operations in India, establishing terms and conditions under Indian banking laws and RBI regulations.

find out more

Master Account Agreement

A foundational banking agreement under Indian law that governs the relationship between a bank and its customer for account operations and related banking services.

find out more

Running Account Credit Agreement

An Indian law-governed agreement establishing a revolving credit facility between a financial institution and borrower, detailing terms, conditions, and regulatory compliance requirements.

find out more

Client Account Agreement

An Indian law-governed agreement establishing the terms and conditions for bank account operations between a banking institution and its clients, incorporating RBI regulatory requirements.

find out more

Business Account Agreement

An Indian law-governed agreement establishing the terms and conditions for business banking relationships between financial institutions and their corporate customers.

find out more

Accounts Receivable Agreement

An Indian law-governed agreement for the transfer or management of accounts receivable, establishing terms for sale, assignment, or financing of receivables.

find out more

Letter Of Authorization To Debit Account

An RBI-compliant banking document authorizing automatic account debits in India, establishing terms and conditions for recurring payment arrangements.

find out more

Account Control Agreement

An Indian law-governed agreement establishing control rights over deposit accounts as collateral security between an account holder, secured party, and depositary bank.

find out more

Time Deposit Agreement

An Indian law-governed agreement between a bank and depositor establishing terms for a fixed-term deposit, compliant with RBI regulations.

find out more

Notice Of Assignment Of Accounts Receivable

An Indian law-compliant formal notice informing a debtor that their payment obligations have been transferred from the original creditor to a new creditor.

find out more

Authorization Agreement For Direct Deposits

A legally-compliant Indian banking document that authorizes and establishes the framework for automated electronic deposits into a designated bank account under RBI guidelines.

find out more

Deposit Account Agreement

An Indian law-governed agreement between a bank and account holder(s) establishing terms for deposit account operations and services.

find out more

Blocked Account Agreement

An Indian law-governed agreement establishing and regulating a blocked bank account arrangement, defining rights and obligations of the account holder, bank, and beneficiaries.

find out more

Bank Account Agreement

Standard Indian banking agreement governing the bank-customer relationship and account operations, compliant with RBI regulations and Indian banking laws.

find out more

Securities Account Control Agreement

An Indian law-governed tripartite agreement establishing control rights over a securities account between an account holder, secured party, and securities intermediary.

find out more

Joint Account Agreement

An Indian law-governed agreement establishing the terms and conditions for operating a joint bank account between multiple account holders.

find out more

Account Opening Agreement

An Indian law-governed agreement establishing terms and conditions for opening and maintaining a bank account, ensuring regulatory compliance and defining rights and obligations of the bank and account holder.

find out more

Certificate Of Deposit Agreement

An Indian law-governed agreement establishing terms for a negotiable certificate of deposit issued by a bank, including deposit details, interest rates, and regulatory compliance requirements.

find out more

Account Receivable Purchase Agreement

An Indian law-governed agreement for the sale and transfer of accounts receivable, establishing terms for purchase, pricing, and servicing of receivables.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.