Article 6 Payment of shared proceeds of crime or property

In the case of assignment of proceeds, as contrasted with transfer, the right to demand payment remains with the original beneficiary, the assignee being given only the right to receive the proceeds of payment, if such payment occurs.

(j) Proceeds means whatever is received in respect of an assigned receivable, whether in total or partial payment or other satisfaction of the receivable. The term includes whatever is received in respect of proceeds. The term does not include returned goods

(b) If payment in respect of the assigned receivable is made to the assignor, the assignee is entitled to payment of the proceeds and also to goods returned to the assignor in respect of the assigned receivable and

Provisional court orders blocking payment or freezing proceeds are also authorized in the case of use of an undertaking for a criminal purpose (article 20(3)).

If the beneficiary assigns the proceeds and if the guarantor issuer or another person obliged to effect payment has received a notice originating from the beneficiary, payment to the assignee discharges the obligor, to the extent of its payment, from liability under the undertaking.(article 10(2)).

(c) If payment in respect of the assigned receivable is made to another person over whom the assignee has priority, the assignee is entitled to payment of the proceeds and also to goods returned to such person in respect of the assigned receivable.

Also, the Administration should enforce the interest payment provision on late transfer of sales proceeds to the greeting card and related operations as enshrined in the recognition agreements.

31. The Convention reflects the distinction drawn in practice between, on the one hand, transfer to another person of the original beneficiary apos s right to demand payment, and, on the other hand, assignment of the proceeds of the undertaking, if payment is made.

(a) If payment in respect of the assigned receivable is made to the assignee, the assignee is entitled to retain the proceeds and goods returned in respect of the assigned receivable

Laundering of proceeds of crime

Legalization of proceeds of crime

(a) The proceeds of serious offences, or assets of a value equivalent to that of such proceeds

Proceeds from sale of equipment

Following the holding of the auction on 10 and 11 July 1997, it was necessary to close the contract with the auctioneer, receive and record the proceeds and effect payment to the vendor.

Control of the proceeds of crime

Information was also provided on the confiscation of assets and proceeds of crime and the sharing of such proceeds.

Laundering of the proceeds from corruption

(ii) Control of the proceeds of crime

(iv) Border control of proceeds of crime

Preventing the laundering of proceeds of corruption

The illegal proceeds shall be confiscated and a fine of 1 5 times of the illegal proceeds shall be imposed.

(e) Preventing and combating the transfer of proceeds of offences established in accordance with this Convention and recovering such proceeds

Provision of medicines (full payment or part payment) by pharmacies

Criminalization of the laundering of proceeds of crime

Proceeds from sale of drug identification kits

(a) Proceeds derived from offences covered by this Convention or property the value of which corresponds to that of such proceeds

Disposal of confiscated proceeds of crime or property

Special rules on proceeds

Security rights in proceeds

33. Expected proceeds from the sale of related property and salvage proceeds should not be netted against an environmental liability.

(a) Proceeds of crime derived from offences covered by this Convention or property the value of which corresponds to that of such proceeds

(a) Proceeds derived from offences set forth in article 1 or property the value of which corresponds to that of such proceeds

(z) Proceeds from a drawing under an independent undertaking means the beneficiary grantor's right to receive a payment made, a draft accepted, a deferred payment obligation incurred, or other item of value delivered by the issuer guarantor in honouring, or by a nominated person in giving value for, a drawing under an independent undertaking.

Date of payment

Type of payment

Date of payment

Prevention and detection of transfers of proceeds of crime

As to the definition of proceeds , language was suggested along the following lines Proceeds includes whatever is received upon the collection or disposition of the receivables or of the proceeds. With regard to the issue of the transfer of rights in proceeds, it was suggested that paragraph (3) should be replaced by wording along the following lines An assignment of receivables also assigns the assignor s rights to their proceeds .

Accounting for proceeds from the sale of property

Proceeds from the sale of United Nations bonds

Proceeds of awards pending disposition b 0.9 0.8

quot (a) Proceeds derived from offences set forth in article 1 or property the value of which corresponds to that of such proceeds

(v) Disposal of confiscated proceeds of crime (article 14)

Money laundering and control of the proceeds of crime