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United Nations Convention on the Assignment of Receivables in International Trade

Title
United Nations Convention on the Assignment of Receivables in International Trade
Table of Contents
Content

United Nations Convention on the Assignment of Receivables in International Trade

[. . .]


Article 7


Principles of interpretation

1. In the interpretation of this Convention, regard is to be had to its object and purpose as set forth in the preamble, to its international character and to the need to promote uniformity in its application and the observance of good faith in international trade.

2. Questions concerning matters governed by this Convention that are not expressly settled in it are to be settled in conformity with the general principles on which it is based or, in the absence of such principles, in conformity with the law applicable by virtue of the rules of private inter- national law.

[. . .]

Article 10

Transfer of security rights

1.  A personal or property right securing payment of the assigned receivable is transferred to the assignee without a new act of transfer. If such a right, under the law governing it, is transferable only with a new act of transfer, the assignor is obliged to transfer such right and any proceeds to the assignee.

2.  A right securing payment of the assigned receivable is transferred under paragraph 1 of this article notwithstanding any agreement between the assignor and the debtor or other person granting that right, limiting in any way the assignor's right to assign the receivable or the right securing payment of the assigned receivable.

Referring Principles
Trans-Lex Principle: I.1.7 - Interpretation and supplementation of the Principles
Trans-Lex Principle: III.2 - Assignment of claim
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