All Countries
Banking
Accounts Receivable Collection Agreement

Accounts Receivable Collection Agreement Template for Malaysia

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

4.6 / 5
4.8 / 5

Let's create your Accounts Receivable Collection Agreement

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:

Accounts Receivable Collection Agreement

"I need an Accounts Receivable Collection Agreement for my telecommunications company based in Kuala Lumpur, appointing a collection agency to handle overdue customer accounts with a focus on digital payment methods and strict data protection requirements."

Celebrated by
Collaborations with
Investors
Document background
The Accounts Receivable Collection Agreement is essential for businesses operating in Malaysia that need to engage professional collection services for managing outstanding receivables. This document is typically used when a company decides to outsource its debt collection activities to a specialized agency, requiring a formal framework that ensures compliance with Malaysian regulations while protecting both parties' interests. The agreement encompasses crucial elements such as collection procedures, fee structures, compliance with the Personal Data Protection Act 2010 and Anti-Money Laundering regulations, reporting requirements, and operational protocols. It's particularly relevant in today's business environment where efficient receivables management is critical for maintaining healthy cash flows while ensuring regulatory compliance.
Suggested Sections

1. Parties: Identifies the contracting parties - the creditor/client and the collection agency

2. Background: Establishes context of the agreement and business relationship

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Scope: Defines the appointment of the collection agency and scope of services

5. Collection Services: Details the specific collection services to be provided

6. Compliance Requirements: Outlines compliance with Malaysian laws including PDPA and AML requirements

7. Fees and Commission: Specifies fee structure, commission rates, and payment terms

8. Operating Procedures: Details day-to-day operational procedures and requirements

9. Reporting Requirements: Specifies reporting obligations and frequency

10. Confidentiality: Addresses confidentiality obligations and data protection

11. Representations and Warranties: States the representations and warranties of both parties

12. Term and Termination: Specifies contract duration and termination provisions

13. Liability and Indemnification: Addresses liability limitations and indemnification obligations

14. General Provisions: Contains standard boilerplate clauses including governing law, notices, etc.

Optional Sections

1. Special Collection Procedures: Used when specific types of receivables require unique collection approaches

2. International Collections: Include when collections involve international debtors

3. Legal Proceedings: Added when the agreement covers litigation services

4. Performance Metrics: Include when specific performance standards are required

5. Sub-contracting: Used when collection agency may need to sub-contract certain services

6. Insurance Requirements: Added when specific insurance coverage needs to be maintained

7. Data Security Measures: Detailed section when handling sensitive data requires specific security protocols

8. Service Level Agreement: Include when specific service levels need to be maintained

Suggested Schedules

1. Schedule 1 - Fee Structure: Detailed breakdown of fees, commissions, and payment terms

2. Schedule 2 - Collection Procedures: Detailed collection procedures and protocols

3. Schedule 3 - Reporting Format: Templates and formats for required reports

4. Schedule 4 - Compliance Checklist: Detailed compliance requirements and procedures

5. Schedule 5 - Contact Details: Key contact information for both parties

6. Schedule 6 - Service Levels: Detailed service level requirements and metrics

7. Appendix A - Power of Attorney: Standard power of attorney form if required

8. Appendix B - Data Protection Protocol: Detailed data protection and security requirements

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

Financial Services

Banking

Healthcare

Retail

Manufacturing

Telecommunications

Utilities

Professional Services

Insurance

Education

Relevant Teams

Finance

Legal

Compliance

Operations

Credit Control

Accounts Receivable

Treasury

Risk Management

Commercial

Business Development

Relevant Roles

Chief Financial Officer

Finance Director

Credit Control Manager

Accounts Receivable Manager

Collections Manager

Financial Controller

Legal Counsel

Compliance Officer

Treasury Manager

Credit Risk Manager

Operations Manager

Contract Manager

Business Development Manager

Account Manager

Industries
Contracts Act 1950: Governs the fundamental aspects of contract formation, validity, and enforcement in Malaysia, providing the legal framework for the agreement
Personal Data Protection Act 2010: Regulates the collection, use, and disclosure of personal data in commercial transactions, crucial for handling debtor information
Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001: Ensures compliance with money laundering prevention requirements in financial transactions and collections
Financial Services Act 2013: Provides regulatory framework for financial institutions and financial services activities, including debt collection practices
Consumer Protection Act 1999: Protects consumer rights and interests, particularly relevant when collecting debts from individual consumers
Limitation Act 1953: Sets time limits for bringing legal actions to recover debts, crucial for determining collectible accounts
Digital Signature Act 1997: Relevant for electronic execution of agreements and digital communications in the collection process
Credit Reporting Agencies Act 2010: Regulates credit reporting and the sharing of credit information, important for debt collection activities
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

Accounts Receivable Collection Agreement

A Malaysian law-governed agreement establishing terms for accounts receivable collection services, including compliance requirements, fee structures, and operational procedures.

find out more

Deed Of Assignment Of Shares

A Malaysian law-governed deed that formally documents and executes the transfer of shares from one party to another, ensuring legal compliance with local corporate and stamp duty requirements.

find out more

Current Account Agreement

Malaysian law-governed agreement establishing terms and conditions for operating a current account with a financial institution in Malaysia.

find out more

Pre Authorized Payment Agreement

A Malaysian law-governed agreement establishing automated recurring payment arrangements between a financial institution and account holder, complying with local banking and data protection regulations.

find out more

Collateral Account Control Agreement

A Malaysian law-governed agreement establishing control arrangements over bank accounts as security, detailing operational procedures and control rights between account holder, secured party, and account bank.

find out more

Collateral Account Agreement

Malaysian law-governed agreement establishing security over bank accounts and their contents, detailing account operation and security enforcement rights.

find out more

Running Account Credit Agreement

A Malaysian law-governed agreement establishing a revolving credit facility between a financial institution and borrower, detailing terms for ongoing credit access and utilization.

find out more

Business Account Agreement

A Malaysian law-governed agreement between a bank and business entity establishing terms for business banking accounts and related services.

find out more

Bookkeeping Confidentiality Agreement

A Malaysian law-governed confidentiality agreement protecting financial information handled by bookkeepers, ensuring compliance with local data protection and financial services regulations.

find out more

Trust Account Agreement

A Malaysian law-governed agreement establishing the terms and conditions for operating a trust account, defining relationships between trustee, settlor, and beneficiaries.

find out more

Letter Of Authorization To Debit Account

A Malaysian banking document authorizing automatic debits from an account holder's account, compliant with local banking regulations and central bank guidelines.

find out more

Account Control Agreement

A Malaysian law agreement establishing control rights over bank accounts in secured financing arrangements, between an account holder, secured party, and bank.

find out more

Notice Of Assignment Of Accounts Receivable

A Malaysian law-compliant formal notice informing debtors that receivables have been assigned to a new creditor, including payment instructions and acknowledgment requirements.

find out more

Blocked Account Control Agreement

A Malaysian law-governed agreement establishing control rights over a bank account as security, typically used in financing transactions.

find out more

Authorization Agreement For Direct Deposits

A Malaysian-compliant agreement authorizing financial institutions to process direct deposits into designated bank accounts, establishing terms for electronic fund transfers.

find out more

Security Account Control Agreement

A Malaysian law-governed agreement establishing control rights over bank accounts as collateral, creating a three-way relationship between account holder, secured party, and bank.

find out more

Deposit Account Agreement

A Malaysian law-governed agreement establishing terms and conditions for operating a deposit account with a financial institution, compliant with Malaysian banking regulations.

find out more

Margin Agreement

A Malaysian law-governed agreement establishing terms for margin trading facilities between financial institutions and clients, including collateral arrangements and regulatory compliance requirements.

find out more

Account Bank Agreement

A Malaysian law-governed agreement establishing the terms and conditions for banking services between a bank and its account holder(s).

find out more

Securities Account Control Agreement

A Malaysian law-governed tripartite agreement establishing control rights over a securities account in favor of a secured party, compliant with local securities regulations.

find out more

Account Management Agreement

A Malaysian law-governed agreement establishing terms for professional account management services and regulatory compliance.

find out more

Joint Account Agreement

A Malaysian law-governed agreement establishing the terms and conditions for operating a joint bank account between multiple account holders and a financial institution.

find out more

Account Pledge Agreement

A Malaysian law security document creating a pledge over bank accounts in favor of lenders/security agents, subject to local banking and security regulations.

find out more

Account Opening Agreement

A Malaysian law-governed agreement establishing the terms and conditions for opening and maintaining bank accounts, compliant with local banking regulations and consumer protection requirements.

find out more

Certificate Of Deposit Agreement

A Malaysian law-governed agreement establishing terms and conditions for a fixed-term deposit between a financial institution and depositor, detailing deposit amount, interest, and maturity terms.

find out more

Account Receivable Purchase Agreement

A Malaysian law-governed agreement for the sale and purchase of accounts receivable between a seller and a financial institution, establishing terms for ongoing receivables purchases.

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.