Contract for collateral on receivables 

Use this contract: 

• When you owe a certain debt to the creditor, in pounds or a foreign currency.
• To reassure the creditor and guarantee payment of the debt by the value of the claims and interest you have against your customers or debtors.
• When you want the creditor to be able to collect payments on the assigned receivables as security for the debt you owe.

£20/document

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Jurisdiction: England and Wales
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Use the following options to optimise the terms of the pledge: 

• Possibility of retaining receivables and accrued interest on assigned receivables in the event of default. 
• Indication of a grace period during which the debt must be pursued in cash before realising the assigned receivables. 
• Obligation to cover realisation costs and any excess amount not covered by the value of the assigned receivables. 
• Obligation to repay any balance of assigned receivables in excess of the debt written off. 
• Possibility of guaranteeing performance of assigned receivables if the debtors are themselves in arrears.