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Unidroit Convention on International Factoring (28 May 1988)

[Preamble]

CHAPTER I - SPHERE OF APPLICATION AND GENERAL PROVISIONS

Article 1

Article 2

Article 3

Article 4

CHAPTER II - RIGHTS AND DUTIES OF THE PARTIES

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

CHAPTER III - SUBSEQUENT ASSIGNMENTS

Article 11

Article 12

CHAPTER IV - FINAL PROVISIONS

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

[Post Provisions]

[Post Clauses (If any: Signed; Witnessed; Done; Authentic Texts; & Deposited Clauses)]

Metadata

SiSU Metadata, document information

Manifest

SiSU Manifest, alternative outputs etc.

Unidroit Convention on International Factoring (28 May 1988)

UNIDROIT

copy @ Lex Mercatoria

Unidroit Convention on International Factoring (28 May 1988)

CHAPTER I - SPHERE OF APPLICATION AND GENERAL PROVISIONS

Article 1

1. - This Convention governs factoring contracts and assignments of receivables as described in this Chapter.

2. - For the purposes of this Convention, "factoring contract" means a contract concluded between one party (the supplier) and another party (the factor) pursuant to which:

(a) the supplier may or will assign to the factor receivables arising from contracts of sale of goods made between the supplier and its customers (debtors) other than those for the sale of goods bought primarily for their personal, family or household use;

(b) the factor is to perform at least two of the following functions:

- finance for the supplier, including loans and advance payments;

- maintenance of accounts (ledgering) relating to the receivables;

- collection of receivables;

- protection against default in payment by debtors;

(c) notice of the assignment of the receivables is to be given to debtors.

3. - In this Convention references to "goods" and "sale of goods" shall include services and the supply of services.

4. - For the purposes of this Convention:

(a) a notice in writing need not be signed but must identify the person by whom or in whose name it is given;

(b) "notice in writing" includes, but is not limited to, telegrams, telex and any other telecommunication capable of being reproduced in tangible form;

(c) a notice in writing is given when it is received by the addressee.


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