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U.S. Signing of UNCITRAL Convention on Assignment of Receivables

Published online by Cambridge University Press:  10 March 2017

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Abstract

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Type
Contemporary Practice of the United States Relating to International Law
Information
American Journal of International Law , Volume 98 , Issue 2 , April 2004 , pp. 368 - 370
Copyright
Copyright © American Society of International Law 2004

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References

1 See United Nations Commission on International Trade Law, Assignment of Claims: Note by the Secretariat, paras. 1-5, UN Doc. A/CN.9/378/Add.3 (1993), reprinted in 1993 Y.B. UNCITRAL 244 Google Scholar [hereinafter Assignment of Claims]. For the documents relating to the negotiation of the convention discussed herein, see <http://www.uncitral.org>.

2 See United Nations Commission on International Trade Law, Assignment in Receivables Financing: Discussion and Preliminary Draft of Uniform Rules: Report by the Secretary-General, paras. 7-29, UN Doc. A/CN.9/412(1995), reprinted in 1995 Y.B. UNCITRAL 217, 218-21.

3 For further background and an analysis of the UNCITRAL convention, see Spiros, V. Bazinas, Key Policy Issues of the United Nations Convention on the Assignment of Receivables in International Trade, 11 Tul. J. Int’l & Comp. L. 275 (2003)Google Scholar, and Ferrari, Franco, The UNCITRAL Draft Convention on Assignment in Receivables Financing: Applicability, General Provisions and the Conflict of Conventions, 1 Melbourne J. Int’l L. 1 (2000)Google Scholar.

4 See Assignment of Claims, supra note 1, paras. 6-10.

5 See Report of the United Nations Commission on International Trade Law on its Twenty-Eighth Session, UN GAOR, 50th Sess., Supp. No. 17, paras. 374-81, UN Doc. A/50/17 (1995).

6 See United Nations Commission on International Trade Law, Draft Convention on Assignment [in Receivables Financing] [of Receivables in International Trade]—Compilation of Comments by Governments and International Organizations, addendum, at 3, UN Doc. A/CN.9/472/Add.3 (Apr. 25, 2000) (subheadings omitted).

7 GA Res. 56/81, annex (Dec. 12, 2001) [hereinafter UNCITRAL Convention].

8 Id., pmbl.

9 Id., Art. 1(1) (a).

10 Id., Art. 1(3).

11 Id., Art. 27.

12 Id., Art. 8.

13 Id., Art. 9.

14 Id, Art. 10(l)-(2).

15 Id.,Arts. 22, 30. States may also declare that they will be bound by several different substantive priority rules, which are contained in annex sections I to IV. UNCITRAL Convention, supra note 7, Art. 42(1).

16 Id., Art. 24.

17 Id., Art. 13. The convention also contains model substantive priority provisions that parties may utilize to benefit from Article 13. Id., annex, Arts. 6-9.

18 UNCITRAL Convention, supra note 7, Art. 15(1). Article 16 provides for debtor-notification requirements.

19 Id., Arts. 17-19.

20 Id., Art. 1 (4), ch. V (“The provisions of chapter V apply to assignments of international receivables and to international assignments of receivables as defined in this chapter independently of paragraphs 1 to 3 of this article. However, those provisions do not apply if a State makes a declaration under article 39.”).

21 Id., Art. 45(1).