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United Nations Convention on the Assignment of Receivables in International Trade, 2001

PREAMBLE

CHAPTER I - SCOPE OF APPLICATION

Article 1 - Scope of application

Article 2 - Assignment of receivables

Article 3 - Internationality

Article 4 - Exclusions and other limitations

CHAPTER II - GENERAL PROVISIONS

Article 5 - Definitions and rules of interpretation

Article 6 - Party autonomy

Article 7 - Principles of interpretation

CHAPTER III - EFFECTS OF ASSIGNMENT

Article 8 - Effectiveness of assignments

Article 9 - Contractual limitations on assignments

Article 10 - Transfer of security rights

CHAPTER IV - RIGHTS, OBLIGATIONS AND DEFENCES

Article 11 - Rights and obligations of the assignor and the assignee

Article 12 - Representations of the assignor

Article 13 - Right to notify the debtor

Article 14 - Right to payment

Article 15 - Principle of debtor protection

Article 16 - Notification of the debtor

Article 17 - Debtor's discharge by payment

Article 18 - Defences and rights of set-off of the debtor

Article 19 - Agreement not to raise defences or rights of set-off

Article 20 - Modification of the original contract

Article 21 - Recovery of payments

Article 22 - Law applicable to competing rights

Article 23 - Public policy and mandatory rules

Article 24 - Special rules on proceeds

Article 25 - Subordination

CHAPTER V - AUTONOMOUS CONFLICT-OF-LAWS RULES

Article 26 - Application of chapter V

Article 27 - Form of a contract of assignment

Article 28 - Law applicable to the mutual rights and obligations of the assignor and the assignee

Article 29 - Law applicable to the rights and obligations of the assignee and the debtor

Article 30 - Law applicable to priority

Article 31 - Mandatory rules

Article 32 - Public policy

CHAPTER VI - FINAL PROVISIONS

Article 33 - Depositary

Article 34 - Signature, ratification, acceptance, approval, accession

Article 35 - Application to territorial units

Article 36 - Location in a territorial unit

Article 37 - Applicable law in territorial units

Article 38 - Conflicts with other international agreements

Article 39 - Declaration on application of chapter V

Article 40 - Limitations relating to Governments and other public entities

Article 41 - Other exclusions

Article 42 - Application of the annex

Article 43 - Effect of declaration

Article 44 - Reservations

Article 45 - Entry into force

Article 46 - Denunciation

Article 47 - Revision and amendment

ANNEX TO THE CONVENTION

SECTION I - PRIORITY RULES BASED ON REGISTRATION

Article 1 - Priority among several assignees

Article 2 - Priority between the assignee and the insolvency administrator or creditors of the assignor

SECTION II - REGISTRATION

Article 3 - Establishment of a registration system

Article 4 - Registration

Article 5 - Registry searches

SECTION III - PRIORITY RULES BASED ON THE TIME OF THE CONTRACT OF ASSIGNMENT

Article 6 - Priority among several assignees

Article 7 - Priority between the assignee and the insolvency administrator or creditors of the assignor

Article 8 - Proof of time of contract of assignment

SECTION IV - PRIORITY RULES BASED ON THE TIME OF NOTIFICATION OF ASSIGNMENT

Article 9 - Priority among several assignees

Article 10 - Priority between the assignee and the insolvency administrator or creditors of the assignor

[Post Provisions]

Metadata

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Manifest

SiSU Manifest, alternative outputs etc.

United Nations Convention on the Assignment of Receivables in International Trade, 2001

United Nations (UN)

copy @ Lex Mercatoria

CHAPTER VI - FINAL PROVISIONS

Article 43 - Effect of declaration

1. Declarations made under articles 35, paragraph 1, 36, 37 or 39 to 42 at the time of signature are subject to confirmation upon ratification, acceptance or approval.

2. Declarations and confirmations of declarations are to be in writing and to be formally notified to the depositary.

3. A declaration takes effect simultaneously with the entry into force of this Convention in respect of the State concerned. However, a declaration of which the depositary receives formal notification after such entry into force takes effect on the first day of the month following the expiration of six months after the date of its receipt by the depositary.

4. A State that makes a declaration under articles 35, paragraph 1, 36, 37 or 39 to 42 may withdraw it at any time by a formal notification in writing addressed to the depositary. Such withdrawal takes effect on the first day of the month following the expiration of six months after the date of the receipt of the notification by the depositary.

5. In the case of a declaration under articles 35, paragraph 1, 36, 37 or 39 to 42 that takes effect after the entry into force of this Convention in respect of the State concerned or in the case of a withdrawal of any such declaration, the effect of which in either case is to cause a rule in this Convention, including any annex, to become applicable:

(a) Except as provided in paragraph 5 (b) of this article, that rule is applicable only to assignments for which the contract of assignment is concluded on or after the date when the declaration or withdrawal takes effect in respect of the Contracting State referred to in article 1, paragraph 1 (a);

(b) A rule that deals with the rights and obligations of the debtor applies only in respect of original contracts concluded on or after the date when the declaration or withdrawal takes effect in respect of the Contracting State referred to in article 1, paragraph 3.

6. In the case of a declaration under articles 35, paragraph 1, 36, 37 or 39 to 42 that takes effect after the entry into force of this Convention in respect of the State concerned or in the case of a withdrawal of any such declaration, the effect of which in either case is to cause a rule in this Convention, including any annex, to become inapplicable:

(a) Except as provided in paragraph 6 (b) of this article, that rule is inapplicable to assignments for which the contract of assignment is concluded on or after the date when the declaration or withdrawal takes effect in respect of the Contracting State referred to in article 1, paragraph 1 (a);

(b) A rule that deals with the rights and obligations of the debtor is inapplicable in respect of original contracts concluded on or after the date when the declaration or withdrawal takes effect in respect of the Contracting State referred to in article 1, paragraph 3.

7. If a rule rendered applicable or inapplicable as a result of a declaration or withdrawal referred to in paragraph 5 or 6 of this article is relevant to the determination of priority with respect to a receivable for which the contract of assignment is concluded before such declaration or withdrawal takes effect or with respect to its proceeds, the right of the assignee has priority over the right of a competing claimant to the extent that, under the law that would determine priority before such declaration or withdrawal takes effect, the right of the assignee would have priority.


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