United Nations Convention on the Assignment of Receivables in International Trade
- Type: Convention
- Date of signature: 12/12/2001
- Place of signature: New York, USA
- Depositary: Secretary General of the UN
- Date of entry into force: N/A
What is it about?
This Convention details substantive and choice of law rules that improve the possibility for cross border transactions involving the assignment of receivables. It notably addresses regulations governing the validity of such receivables, as well as the rights and obligations of contracting parties.
Why is it relevant?
By guaranteeing certainty and transparency this Convention may potentially promote the availability of capital and credit at more affordable rates and thus facilitate the development of international trade.