The Seller's Finance Agreement is utilized when a seller wishes to provide direct financing to a buyer for the purchase of goods or assets in Germany. This arrangement is particularly common in situations where traditional bank financing may not be optimal or available, or where the seller wishes to facilitate sales through internal financing options. The document must comply with German banking regulations, civil law requirements, and consumer protection provisions where applicable. It typically includes detailed terms covering the financing amount, interest calculations, repayment schedules, security arrangements, and default remedies. The agreement is structured to protect both parties' interests while ensuring enforceability under German law, with particular attention to documentation requirements and regulatory compliance specific to the German jurisdiction.
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1. Parties: Identification of the Seller/Financier and the Buyer/Borrower with full legal details
2. Background: Context of the transaction, including the underlying sale and need for financing
3. Definitions: Key terms used throughout the agreement, including financial and legal terminology
4. Principal Amount and Purpose: Details of the financing amount and its intended use
5. Interest Rate and Calculations: Specification of interest rate, calculation method, and payment periods
6. Repayment Terms: Schedule and methods of repayment, including installment amounts
7. Payment Mechanics: Details of payment procedures, account information, and payment methods
8. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority
9. Borrower Covenants: Ongoing obligations of the borrower during the term of the agreement
10. Events of Default: Circumstances constituting default and their consequences
11. Remedies: Rights and actions available to the seller in case of default
12. Notices: Communication procedures between parties
13. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Security Arrangements: Include when the financing is secured by collateral or guarantees
2. Insurance Requirements: Include when specific insurance coverage is required for financed assets
3. Early Repayment Provisions: Include when early repayment options are offered
4. Assignment and Transfer: Include when rights under the agreement may be transferred
5. Tax Provisions: Include when specific tax implications need to be addressed
6. Force Majeure: Include when protection against unforeseen circumstances is needed
7. Data Protection: Include when personal data processing is involved
8. Third Party Rights: Include when rights of third parties need to be addressed
1. Repayment Schedule: Detailed amortization table showing payment dates and amounts
2. Asset Description: Detailed description of the asset(s) being financed
3. Security Details: Specifications of any collateral or security arrangements
4. Form of Notices: Standard templates for various notices under the agreement
5. Due Diligence Requirements: List of required documentation and verification procedures
6. Compliance Checklist: Requirements under German banking and financial regulations
7. Calculation Examples: Examples of interest and payment calculations
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Automotive
Industrial Equipment
Real Estate
Construction
Technology
Retail
Agriculture
Heavy Machinery
Energy
Transportation
Medical Equipment
Relevant Teams
Legal
Finance
Sales
Commercial
Risk Management
Treasury
Compliance
Credit Control
Business Development
Operations
Relevant Roles
Chief Financial Officer
Finance Director
Credit Manager
Sales Director
Commercial Director
Legal Counsel
Contract Manager
Risk Manager
Treasury Manager
Business Development Manager
Account Executive
Financial Controller
Compliance Officer
General Counsel
Credit Risk Analyst
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