28 October 2019
WOA Legal Community Expert Ulrich Brink published his third lecture on legal aspects for receivables finance.
In this presentation, Ulrich highlights the major legal topics related to cross-border receivables finance:
- International Factoring (1-Factor System or 2-Factor System)
- Legal differences in the assignment
- Model Laws and efforts of unification
- European Conflict of law rules
The lack of harmonization of the legal environment for factoring/receivables finance continues to be an important barrier for the availability of this SME focused finance instrument, especially when it comes to cross border Open Account trade receivables. The recent ratification by the USA of the Uncitral Convention on the assignment of receivables in international trade may be an important step towards such much needed harmonization. The WOA Legal Learning Lab follows closely new developments and will update the community with new insights regularly.
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