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UNJDROIT Convention lnternational Factoring

(Ottawa, 28

1988)

STATES PARTIES THIS CONVENTION,

CONSCIOUS of the fact that international factoring has significant role to play in the development of
international trade,
RECOGNISING therefore the importance of adopting uniform rules to provide legal framework that will
facilitate international factoring, while maintaining fair balance of interests be!tween the different parties
involved in factoring transactions,
HAVE AGREED as follows:

CHAPTER 1- SPHERE OF APPLICATION AND GENERAL PROVISIONS

Artic/e 1

1. - This Convention governs factoring contracts and assignments of receivables as described in this
Chapter.
2. - For the purposes of this Convention, "factoring contract" means contract concluded between one
party (the supplier) and another party (the factor) pursuant to which :
()

the supplier may or will assign to the factor receivaes arising from contracts of sale of goods made
between the supplier and its customers (detors) other than those for the sale of goods bought primarily
for th1eir personal, family or household use;
()

the factor is to perform at least two of the following functions :

- finace for the supplier, including loans and advance payments;


- mair1tenance of accounts (ledgering) relating to the
- collection of

receivaes;

receivaies;

- protection against default in payment detors;


()

nol:ice of the assignment of the receivables is to given to deblors.

3. - ln this Convention references to "goods" and "sale of goods" sha\1 include services and the supply of
servicE~s .

4. - For the purposes of this Convention:


() notice in writing need not signed but must identify the person whom or in whose name it is
given;
()

"notice in writing" includes, but is not limited to, telegrams, telex and any other telecommunication
of being reproduced in tangiie form;

i
()

notice in writing is given when it is received

the addressee.

Article 2

1. - This Convention applies whenever the receivaes assigned pursuant to factoring contract arise
from contract of sale of goods between supplier and detor whose places of business are in
different States and:
() those States and the State in which the factor has its place of business Contracting States;
() both the contract of sale of goods and the factoring contract are governed the law of Contracting
State.

2. - reference in this Convention to party's place of business shall, if it has rnore than one place of
business, mean the place of business which has the closest relationship to the relevant contract and its
performance, having regard to the circumstances known to contemplated the parties at any time
before at the conclusion of that contract.

Article 3

1. - t' application of this Convention may


()

the parties to the factoring contract;

excluded:

() the parties to the contract of sale of goods, as regards receivaies arising at after the time when

the factor has been given notice in writing of such exclusion .


2. - Wl1ere the application of this Convention is excluded in accordance with the previous paragraph, such
exclusion may made only as regards the Convention as whole.

Article 4
had to its object and purpose as set forth in the
to its international character and to the need to promote uniformity in its application and the
observance of good faith in international trade.

1. - ln the interpretation of this Convention, regard is to

preame,

2. - Questions concerning matters governed this Convention which are not expressly settled in it to
settled in conformity with the general principles which it is based , in the absence of such
principle s, in conformity with the law applicaie virtue of the rules of private international law.

CHAPTER 11 - RIGHTS AND DUTIES OF

Articfe 5

PARTIES

As between the parties to the factoring contract:


() pvision in the factoring contract for the assignment of existing or future receivaies shall not
rendered invalid the fact that the contract does not specify them individually, if at the time of conclusion
of the contract when they come into existence they identified to the contract;

() provision in the factoring contract which future receivaes assigned operates to transfer the
receivaes to the factor when they come into existence without the need for any new act of transfer.

Articfe 6
1. - The assignment of receivaie the supplier to the factor shall effective notwithstanding any
agreement between the supplier and the detor prohiblting such assignment.
2. - However, such assignment shall not effective against the detor when, at the time of conclusion of
the contract of sale of goods, it has its place of business in Contracting State which has made
declarati<) under Article 18 of this Convention .

3. - Nothing in paragraph 1 sha\1 affect any oiigation of good faith owed the supplier to the deblor
any liabllity of the supplier to the detor in respect of an assignment made in breach of the terms of the
contract of sale of goods.

Article 7

factoring contract may validly provide as between the parties thereto for the transfer, with or without
new act of transfer, of \1 or any of the supplier's rights deriving from the contract of sale of goods,
including the benefit of any provision in the contract of sale of goods reserving to the supplier title to the
goocjs or creating any security interest.

Article 8

1. - The detor is under duty to the factor if, and only if, the detor does not have knowledge of ar .
other person's superior right to payment and notice in writing of the assignmer1t:
()

is given to the detor the supplier or the factor with the supplier's autl1ority;

{) rt~asonaiy identifies the receiva\es which have been assigned and the factor to whom for whose
acco,unt the detor is required to make payment; and
()

relates to

receivaes

arising under

contract of sale of goods made at before the time the notice is

give .

2. - lrrespective of any other ground on which payment the detor to the factor discharges the detor
from liabllity, payment shall effective for this purpose if made in accordance with the previous
!~h .

Article 9
1. - lr1 c\aim the factor against the detor for payment of receivaie arising under contract of sale
of goods the detor may set up against the factor all defences arising under thlt contract of which the
detor could have availed itself if such claim had been made the supplier.
2. - The detor may also assert against the factor any right of set-off in respect of claims existing against
the st;pplier in whose favour the receivaie arose and availaie to the debtor at the time notice in writing
of assignment conforming to Article 8(1) was given to the detor.

Article 10

1. - Without prejudice to the detor's rights under Article 9, non-performance or defective or late
performance of the contract of sale of goods shall not itse\f entitle the detor to recover sum paid
the dE!tor to the factor if the detor has right to v that sum from the supplier.
2. - The debtor who has such right to recover from the supplier sum paid to 1:he factor in respect of
receivaie shal/ nevertheless entitled to v that sum from the factor to the extent that:
() thE~ factor has not dischaged an oiigation to make payment to the supplier in espect of that
iv;

{) the factor made such payment at time when it knew of the supplier's non-performance or defective
or late performance as regards the goods to which the deblor's payment relates.

CHAPTER 111- SUBSEQUENT ASSIGNMENTS


Article 11

1. - Wl1ere receivae is assigned


this Convention :

supplier to

factor pursuant to

factoring contract governed

() the rules set out in Articles 5 to 10 shall, subject to sub-paragraph () of this paragraph, apply to any
subsequent assignment of the receivae the factor or subsequent assignee;

()

the provisions of Articles 8 to 10 shall apply as if the subsequent assignee WE!re the factor.

2. - F the purposes of this Convention, notice to the deblor of the subsequent assignment also
constitutes notice of the assignment to the factor.
Artic/e 12

This Convention shall not apply to


factorir1g contract.

subsequent assignment which is prohiblted

the terms of the

CHAPTER IV- FINAL PROVISIONS


Article 13
1. - This Convention is open for signature at the concluding meeting of the Diplomatic Conference for the
Adoption of the Draft Unidroit Conventions on lnternational Factoring and lnternational Financial Leasing
and will remain open for signature all States at Ottawa until 31 December 1990.

2. - This Convention is subject to ratification, acceptance or approval


3. - This Convention is open for accession
is open for signature.
4. - Ratification, acceptance, approval
that effect with the depositary.

/1

States which have signed it.

States which are not signatory S,tates as from the date it

accession is effected

the deposit of formal instrument to

Article 14
1. - Thiso Convention enters into force on the first day of the month following the expiration of six months
after the date of deposit of the third instrument of ratification, acceptance, approva1l or accession.

2. - For each State that ratifies, accepts, approves, or accedes to this Convention after the deposit of the
third instrument of ratification, acceptance, approval or accession, this Convention enters into force in
respect of that State on the first day of the month following the expiration of six months after the date of
the deposit of its instrument of ratification, acceptance, approval or accession.
Artic/e 15

This

Covention

does not prevail over any treaty which has already been or may

'

entered into.

Article 16

1. - lf Contracting State has two or more territorial units in which different systems of law are applicaie
in relation to the matters dealt with in this convention, it may, ! the time of signatue, ratification,
acceptance, approval or accession, dectare that this Convention is to extend to all its territorial units or
only to one or more of them, and may substitute its declaration another declaration at any time.
2. - These declarations are to notified to the depositary and are to state expressly the territorial units to
which the Convention extends.
. - lf, virtue of declaration under this article, this Convention extends to one or more but not all of the
territorial units of Contracting State, and if the place of business of party is located in that State, this

1
1'
1

!
!

place of business, for the purposes of this Convention, is considered not to


unless it is in territorial unit to which the Convention extends.

in

Contracting State,

4.- lf Contracting State makes no declaration under paragraph 1, the Convention is to extend to all
territorial units of that State.

Article 17

1. - Two or more Contracting States which have the same closely related legal rules on matters
governed this Convention may at any time declare that the Convention is not to apply where the
supplier. the factor and the detor have their places of business in those States. Such declarations may
t'e made jointly or reciprocal unilateral declarations.
2. - Contracting State which has the same or c\osely related legal rules on matters governed this
Convention as one or more non-Contracting States may at any time declare that the Convention is not to
c:1pply where the supplier, the factor and the deblor have their places of business in those States.
3. - lf State which is the object of declaration under the previous paragraph subsequently becomes
Contracting State, the declaration made will, as from the date on which the Convention enters into force
i respect of the new Contracting State, have the effect of declaration made under paragraph 1,
provided that the new Contracting State joins in such declaration or makes reciprocal unilateral
declaration.

Article 18
Contracting State may at any time make declaration in accordance with Article 6(2) that an
assignment under Article 6(1) shall not effective against the deblor when, at the time of conclusion of
the contract of sale of goods, it has its place of business in that State.

Article 19

1. - Declarations made under this Convention at the time of signature are su1bject to confirmation upon
ratification, acceptance or approval.
2. - Declarations and confirmations of declarations to in writing and to formally notified to the
depositary.
3. - declaration takes effect simultaneously with the entry into force of this Convention in respect of the
State concerned. However, declaration of which the depositary receives formal notification after such
en,try into force takes effect on the first day of the month following the expiration of six months after the
date of its receipt the depositary. Reciprocal unilateral declarations under Article 17 take effect on the
first day of the month following the expiration of six months after the receipt of the latest declaration
thE~ depositary.
4. - Any State which makes declaration under this Convention may withdraw it at any time formal
notifrcation in writing addressed to the depositary. Such withdrawal is to take effect on the first day of the
month following the expiration of six months after the date of the receipt of the notification the
depositary.
5.. withdrawal of declaration made under Article 17 renders inoperative i relation to the withdrawing
State, as from the date on which the withdrawal takes effect, any joint reciprocal unilateral declaration
made another State under that article.

Ar1icle 20
No reservations are permitted except those expressly authorised in this Convention.

Article 21

This Convention applies when receivaes assigned pursuant to factoring C01ntract arise from contract
of sale of goods concluded or after the date on which the Convention enters into force in respect of the
Contracting States referred to in Article 2(1 )(), or the Contracting State or States referred to in paragr;:>h
1() of that article, provided that:
()

the factoring contract is concluded on or after that date; or

(}

tlhe parties to the factoring contract have agreed that the Convention shall i3pply.
Article 22

1. - This Convention may denounced any Contracting State at any time after the date which it
enters into force for that State.
2. - [)enunciation is effected the deposit of an instrument to that effect with the depositary.

3. - denunciation takes effect the first day of the month following the expiration of six months after
the cleposit of the instrument of denunciation with the depositary. Where lon~~er period for the
denLmciation to take effect is specified in the instrument of denunciation it takes effect upon the expiration
of such longer period after its deposit with the depositary.
Article 23

1. - This Convention shall

deposited with the Government of Canada.

2. - The Government of Canada shall:


()

inform all States which have signed or acceded to this Convention and the President of the
lnternationallnstitute for the Unification of Private Law (Unidroit) of:

(i) each new signature or deposit of an instrument of ratification, acceptance, approval or accession,
together with the date thereof;
(ii) each declaration made under Articles 16, 17 and 18;
(iii) tt1e withdrawal of any declaration made under Article 19(4);
(iv) the date of entry into force of this Convention;
(v) the deposit of an instrument of denunciation of this Convention together witl1 the date of its deposit
and the date which it takes effect;
() tr3nsmit certified true copies of this Convention to all signatory States, to all States acceding to the
Convention and to the President of the lnternationallnstitute for the Unification of Private Law (Unidroit).

IN WITNESS WHEREOF the undersigned plenipotentiaries, being duly authorised their respective
Governments, have signed this Convention.
DONE at Ottawa, this twenty-eighth day of , thousand nine hundred artd eighty-eight, in single
of which the English and French texts are equally authentic.

origial,

[ vmw. u11idroit.or 1 English laguage homepage 1 UNIDROIT Cov1tions Main Page 1


UNIDROIT Conventions: signates and ratificatias l19881nternatioi1I Factorir Covetian Mai11 page


II

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:

Putilina@economy.gov .ru;
BondarenkoiA@economy .gov .ru;
.
Gaibova@economy .gov .ru;

B,elyaevDA@economy.gov.ru.

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