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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)]

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Manifest

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Unidroit Convention on International Factoring (28 May 1988)

UNIDROIT

copy @ Lex Mercatoria

Unidroit Convention on International Factoring (28 May 1988)

CHAPTER II - RIGHTS AND DUTIES OF THE PARTIES

Article 8

1. - The debtor is under a duty to pay the factor if, and only if, the debtor does not have knowledge of any other person's superior right to payment and notice in writing of the assignment:

(a) is given to the debtor by the supplier or by the factor with the supplier's authority;

(b) reasonably identifies the receivables which have been assigned and the factor to whom or for whose account the debtor is required to make payment; and

(c) relates to receivables arising under a contract of sale of goods made at or before the time the notice is given.

2. - Irrespective of any other ground on which payment by the debtor to the factor discharges the debtor from liability, payment shall be effective for this purpose if made in accordance with the previous paragraph.


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