CHAPTER X

INTERNATIONAL TRADE AND DEVELOPMENT17United Nations Convention on the Assignment of Receivables in International TradeNew York, 12 December 2001Not yet in forcesee article 45 which reads as follows : "1. This Convention enters into force on the first day of the month following the expiration of six months from the date of deposit of the fifth instrument of ratification, acceptance, approval or accession with the Depositary. 2. For each State that becomes a Contracting State to this Convention after the date of deposit of the fifth instrument of ratification, acceptance, approval or accession, this Convention enters into force on the first day of the month following the expiration of six months after the date of deposit of the appropriate instrument on behalf of that State. 3. This Convention applies only to assignments if the contract of assignment is concluded on or after the date when this Convention enters into force in respect of the Contracting State referred to in article 1, paragraph 1 (a), provided that the provisions of this Convention that deal with the rights and obligations of the debtor apply only to assignments of receivables arising from original contracts concluded on or after the date when this Convention enters into force in respect of the Contracting State referred to in article 1, paragraph 3. 4. If a receivable is assigned pursuant to a contract of assignment concluded before the date when this Convention enters into force in repsect of the Contracting State referred in article 1, paragraph 1 (a), the right of the assignee has priority over the right of a competing claimant with respect to the receivable to the extent that, under the law that would determine priority in the absence of this Convention, the right of the assignee would have priority.".StatusSignatories3Parties1TextDoc. A/RES/56/81.The Convention was adopted by resolution A/RES/56/81 of 12 December 2001 at the fifty-sixth session of the General Assembly of the United Nations. In accordance with its article 34 (1), the Convention is open for signature by all States at the Headquarters of the United Nations in New York until 31 December 2003.

ParticipantSignatureApproval(AA), Acceptance(A), Accession(a), RatificationLiberia16 Sep 2005 aLuxembourg12 Jun 2002 Madagascar24 Sep 2003 United States of America30 Dec 2003