7. Receivables financing assignment of receivables.

6. Receivables financing assignment of receivables.

Receivables

It was suggested that the list should include, in addition to receivables arising from deposit accounts, receivables arising from investment securities, repurchase agreements, wire transfers, swaps and cheque collection systems.

Other receivables

Assignment of receivables

VI. Other Receivables

2. This Convention does not apply to assignments of receivables arising under or from

Note 12 Other receivables

Note 12 Other Receivables

Revaluation of contributions receivables

(iii) permitting substitution of the assigned receivables for new receivables of at least equal value,

(3)loans and account receivables.

(1)loans and accounts receivables

3. Assignment in receivables financing

IV. Assignment in receivables financing

Note 10. Other accounts receivables

Other receivables and deferred charges

With regard to the description of the receivables, it was suggested that quot a brief description quot might be necessary only in case not all receivables were assigned when all receivables were assigned, a reference to quot all receivables quot should be sufficient.

One view was that such receivables should be excluded from the scope of the draft Convention.

(f) Generally, absolute transfers of receivables

Note 11. Write off of receivables

(a) an assignment of receivables that are specified individually is effective to transfer the receivables to which it relates

In order to address both the transfer of title in the receivables and the creation of security rights in receivables, it was agreed that reference should be made in subparagraphs (a) and (b) to the transfer of rights in receivables rather than to the transfer of receivables .

(3) An assignment of receivables is effective to transfer the rights to cash received upon collection or other disposition of receivables, provided that the cash may be identified as proceeds of the receivables.

(1) This Convention applies to assignments of international receivables and to international assignments of receivables as defined in this Chapter

Another view was that there was no reason to exclude the assignment of receivables arising from deposit accounts.

(3)loans and the account receivables and

Transfer of rights securing the assigned receivables

Note 7. Provision for uncollectible contributions receivables

(i) as regards receivables, it is required to separately list the details of receivable management fee, other receivables and advanced payments

(b) an assignment of receivables that are not specified individually is effective to transfer receivables that can be identified as receivables to which the assignment relates, at the time agreed upon by the assignor and the assignee and, in the absence of such agreement, at the time when the receivables arise.

quot (9) Priority with regard to the receivables includes priority with regard to cash received upon collection or other disposition of the receivables, provided that the cash may be identified as proceeds of the receivables. quot

In paragraph 66, the Board recommended that the Private Sector Division review its policy on the determination of the provision for uncollectible accounts receivable and ensure that it excludes written off receivables from provisions for uncollectible receivables.

(2) An assignment may relate to existing or future, one or more, receivables, and to parts of or undivided interests in receivables.

Interest generated from investments and the related receivables and payables are reported in the quot undistributed quot balance sheet.

An enterprise shall enhance the management of the receivables, evaluate the credit risks of the clients, track the clients' performance of contract, determine and perform the responsibility of receivables collection and cut down the loss from doubtful accounts.

Writing off of losses of cash and receivables

Write off of losses of cash and receivables

V. ASSIGNMENT IN RECEIVABLES FINANCING 252 256 54

2. Write offs of losses of cash, receivables

Receivables Seven of the claims in this instalment seek compensation for receivables for a total asserted value of KWD 852,471 (approximately USD 2,949,727).

quot (4) Receivables financing means any transaction in which value, credit or related services are provided for value in the form of receivables. Receivables financing includes, but is not limited to, factoring, forfaiting, securitization, project financing and refinancing.

The Working Group next turned to the question whether the assignment of receivables arising from deposit accounts should be covered.

As regards domestic receivables, the concern was expressed that their assignment raised different issues from the assignment of international receivables and, accordingly, if covered by the draft Convention at all, should be made subject to a different set of rules.