UNIDROIT Convention on International Factoring

General Detail

General Information

  1. Type: Convention
  2. Date of signature:
  3. Place of signature: Ottawa, Canada
  4. Depositary:
  5. Date of entry into force: 01/05/1995

Category

Contracts

Sub category

Leasing/Factoring

Groups

UNIDROIT

What is it about?

This Convention governs factoring contracts and assignments of receivables. A "factoring contract" refers to a contract concluded between one party (the supplier) and another party (the factor). The supplier may 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. This Convention applies whenever the receivables assigned pursuant to a factoring contract arise from a contract of sale of goods between a supplier and a debtor whose places of business are in different States and 1) those States and the State in which the factor has its place of business are Contracting States; or 2) both the contract of sale of goods and the factoring contract are governed by the law of a Contracting State.

Why is it relevant?

International factoring is an important aspect of the financing of international trade operations and allows for the protection of exporters against risks of non-payment. Acceptance of this Convention provides a country with a suitable legal framework to develop factoring businesses on their territory.

Additional Information

- N/A

  • N/A.

Download

Country ratifications
CountryRatification date
Belgium18/03/2010
France23/09/1991
Germany20/05/1998
Hungary07/05/1996
Italy29/11/1993
Latvia06/08/1997
Nigeria25/10/1994
Russian Federation22/08/2014
Ukraine05/12/2006
Treaties analysis
YearRatifications
19911
19931
19941
19961
19971
19981
20061
20101
20141
Total9
Map
Contact Us

Not readable? Change text. captcha txt

Fatal error: Allowed memory size of 268435456 bytes exhausted (tried to allocate 12491382 bytes) in /var/www/html/legacarta/wp-includes/functions.php on line 440