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![handle is hein.congrecreports/crptxunited0001 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION
GPO
115TH CONGRESS ExEc. REPT.
2d Session SENATE 115-7
UNITED NATIONS CONVENTION ON THE ASSIGNMENT OF
RECEIVABLES IN INTERNATIONAL TRADE, DONE AT
NEW YORK ON DECEMBER 12, 2001, AND SIGNED BY
THE UNITED STATES ON DECEMBER 30, 2003
SEPTEMBER 12, 2018.-Ordered to be printed
Mr. CORKER, from the Committee on Foreign Relations,
submitted the following
REPORT
[To accompany Treaty Doc. 114-7]
The Committee on Foreign Relations, to which was referred the
United Nations Convention on the Assignment of Receivables in
International Trade, done at New York on December 12, 2001, and
signed by the United States on December 30, 2003 (Treaty Doc.
114-7), having considered the same, reports favorably thereon with
six declarations and five understandings, as indicated in the resolu-
tion of advice and consent, and recommends that the Senate give
its advice and consent to ratification thereof.
CONTENTS
Page
I. P u rpose ........................................................................................................... 1
II. B ackground .................................................................................................... 2
III. M ajor Provisions ............................................................................................ 4
IV. Entry Into Force and Denunciation ............................................................. 6
V. Im plem enting Legislation ............................................................................. 6
V I. Com m ittee A ction ......................................................................................... 6
VII. Committee Recommendation and Comments ............................................. 6
VIII. Text of Resolution of Advice and Consent to Ratification .......................... 14
I. PURPOSE
The United Nations Convention on the Assignment of Receiv-
ables in International Trade (the Convention) provides uniform
rules to facilitate cross-border receivables financing. Receivables fi-
nancing is an important tool in helping U.S. companies secure
working capital financing. Within the United States, lenders and
buyers of receivables are familiar with providing financing based
upon the use of receivables from debtors located within the United
States as working capital collateral. Uniform Commercial Code Ar-
79-115](ViewImageLocal?handle=hein.congrecreports/crptxunited0001&div=1&collection=&method=preview&ext=.png&size=3)