Towards a Predictable Law on International Receivables Financing: the Uncitral Convention
- Topics:
- Commercial Banking
- Source:
- New York University
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Overview: Receivables have become a vital component of financing, and a growing percentage of all receivables financing is international. Yet under the laws of many countries, certain forms of receivables financing are still not recognized.2 Even in transactions involving countries where this form of financing is possible, determining which law governs may be difficult. The domestic law of any of several countries may apply to a single transaction, and the disparity among the laws of the various jurisdictions increases uncertainty. The risk associated with a transaction in which any of several legal regimes might apply increases the cost of credit. Thus, in many circumstances, receivables financing can be expensive or, at worst, impossible.
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Format: PDF | Size: 177KB | Date: Feb 2000 | Pages: 33
