Exemples d'utilisation de Assignments of future receivables en Anglais et leurs traductions en Français
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The interests of assignors protected, for example,by national law prohibitions of assignments of future receivables or of global assignments, would not be unduly interfered with see para. 94.
There was support for that suggestion, since a priority rule referring to the time of the actual transfer would be difficult to apply in the case of bulk assignments of future receivables.
It was noted that the main purpose of draft article 10 was to validate assignments of future receivables, bulk assignments and partial assignments as between the assignor and the assignee and as against the debtor, but not as against third parties.
Security used in project finance typically includes mortgages, fixed orfloating charges over all the assets of the project and assignments of future receivables arising from the operation of the project.
Legal systems also differ with respect to the effectiveness of assignments of future receivables and receivables not specifically identified, as well as with respect to the effectiveness of assignments made despite anti-assignment clauses in the contracts from which the assigned receivables arise.
Article 5 addresses two possible obstacles to the validity of an assignment under a factoring contract as regards the parties to the factoring contract inter se,namely the reluctance of certain jurisdictions to recognise global assignments of receivables and assignments of future receivables.
Assignments of future receivables, bulk assignments and assignments of parts of or undivided interests in receivables are at the heart of significant financing practices e.g. asset-based financing, factoring, securitization, project financing, loan syndication and participation.
The view was expressed that the denunciation of the draft Convention by a Contracting State would be likely to affect the rights of third parties,particularly in the case of assignments of future receivables, and that it might be desirable for the Working Group to consider ways in which the rights of those third parties could be protected from the adverse effects of a denunciation.
It had also made substantial progress on a number of other matters,including the validity of assignments of future receivables, of receivables not individually identified(bulk assignments) and of those which were concluded in violation of or despite an anti-assignment clause contained in the contract under which the assigned receivables arose.
An approach based on the place of business of the assignor with the closest connection to the relevant transaction(see art. 4(2) of the Rome Convention) was considered by the Commission andrejected because it did not provide sufficient certainty(in the case of assignments of future receivables) or could produce more than one law applicable(in the case of bulk assignments) and thus could have a negative impact on the availability and cost of credit.
In addition, the Commission noted that the Working Group had made substantial progress on a number of other matters,including the validity of assignments of future receivables and of receivables not identified individually(i.e. bulk assignments), as well as of assignments concluded despite an anti-assignment clause contained in the contract under which the assigned receivables arose, and the debtor-protection issues.
For example, the general effectiveness of an assignment of future receivables is addressed in article 9.
Obstacles created to the assignment of future receivables would be removed in a consistent and sufficiently comprehensive way.
As a result, an assignment of future receivables or a bulk assignment of receivables that are not identified individually may be ineffective.
The third option would be to limit the scope of article 11 to the assignment of future receivables or receivables that could not be individually identified, without recourse to a list.
The Working Group noted that the purpose of paragraph(2) was to provide that, once there was a master agreement in writing,no further writing was needed for the assignment of future receivables to become effective.
Some delegations considered that the practical advantages of recommendation 204 for regular transactions involving the bulk assignment of receivables or the assignment of future receivables outweighed the disadvantages of uncertainty in respect of irregular transactions.
However, article 9, paragraph 3, may not be sufficient to the extent that article 9, paragraph 1, may be read as validating the assignment of future receivables even in the case of consumer receivables. .
Article 11 is based on the assumption that the assignee should not have to examine the documentation of each receivable,since this process would be costly in a bulk assignment and impossible in an assignment of future receivables.
However, it could be inferred from the comprehensive carve-out in the Assignment Convention for financial contracts and financial instruments, i.e. other intangibles,that recommendation 204 did not work for situations other than the bulk assignment of receivables or the assignment of future receivables.