✦ LIBER ✦

The priority provisions of the UNCITRAL convention on the assignment of receivables in International Trade

✍ Scribed by Bruce A. Markell; Richard F. Broude

Publisher: John Wiley and Sons
Year: 2002
Tongue: English
Weight: 174 KB
Volume: 11
Category: Article
ISSN: 1180-0518
DOI: 10.1002/iir.100

No coin nor oath required. For personal study only.

✦ Synopsis

UNCITRAL's Convention on the Assignment of Receivables in International

Trade (the ''Convention'') 1 is an ambitious document. As stated in its preamble, one of the goals of the Convention is to ''promote the availability of capital and credit at more a¡ordable rates and thus facilitate the development of international trade. '' 2 It seeks to achieve this aim by regularizing the process by which a lender or other ¢nancier secures a borrower's repayment obligation with receivables. 3 In this regard, the Convention seeks to standardize the law of transfer by, among other things, permitting the assignment of receivables in bulk, as well as the assignment of future receivables. 4 The Convention also provides guidance on when the debtor on a receivable must pay the assignee, 5 and when such payment discharges the debtor's obligation on the receivable. 6

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