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STATUS AS AT : 23-04-2014 05:01:22 EDT
CHAPTER X
INTERNATIONAL TRADE AND DEVELOPMENT
17 . United Nations Convention on the Assignment of Receivables in International Trade
New York, 12 December 2001
Not yet in force
:
see 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.".
Status :
Signatories : 3. Parties : 1
Text :
Doc. A/RES/56/81.
Note :
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.
Participant
Signature
Approval(AA), Acceptance(A), Accession(a), Ratification
Liberia
  16 Sep 2005 a
Luxembourg
12 Jun 2002
 
Madagascar
24 Sep 2003
 
United States of America
30 Dec 2003
 
Declarations and Reservations
(Unless otherwise indicated, the declarations and reservations were made
upon ratification, acceptance or approval.)

Luxembourg

Declaration:
       “Pursuant to article 39 of the Convention, the Grand Duchy of Luxembourg declares that it does not wish to be bound by chapter V, which contains autonomous conflict-of-laws rules that allow too wide an application to laws other than those of the assignor and that moreover are difficult to reconcile with the Rome Convention.” “The Grand Duchy of Luxembourg, pursuant to article 42, paragraph 1 (c), of the Convention, will be bound by the priority rules set forth in section III of the annex, namely those based on the time of the contract of assignment.”