Factoring Model Law: Advancing access to finance and promoting financial inclusion

Marek Dubovec and Megumi Hara

Chapter 24 in The Elgar Companion to UNIDROIT, 2024, pp 345-358 from Edward Elgar Publishing

Abstract: This chapter discusses the international development of the legal infrastructures supporting receivables financing leading up to the 2023 Unidroit Model Law on Factoring. First, it focuses on international instruments, especially the United Nations Convention on the Assignment of Receivables in International Trade and the UNCITRAL Model Law on Secured Transactions. Then, it explains the reasons leading to the adoption of the Model Law on Factoring, discussing the characteristics of working methods applied to preparing the Model Law and its key principles and elements. These key elements include the scope, namely the types of receivables, third-party effectiveness and priority rules, treatment of proceeds, the effect of anti-assignment clauses, and digitalisation. Finally, this chapter generally highlights the regulatory aspects that will be essential in its implementation.

Keywords: Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
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