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![handle is hein.nccusl/nccpub00978 and id is 1 raw text is: Draft
A-p]i--3{May 4 2007
Under review and
subject to change
United Nations Convention on the Assignment
of Receivables in International Trade
Article 2. Assignment of receivables
For the purposes of this Convention:
(a) Assignment means the transfer by agreement from one person (assignor) to another
person (assignee) of all or part of or an undivided interest in the assignor's contractual right to
payment of a monetary sum (receivable) from a third person (the debtor). The creation of rights in
receivables as security for indebtedness or other obligation is deemed to be a transfer;
[The Senate Report will explain in connection with the definition of receivable A:-: d
+ q e Excevt as provided in the following sentence, the rights of either party to a license or an
assignment or other transfer of an interest in intellectual property are not a receivable as defined
in the Convention--Ae--Iv. and accordinlj the Convention--gtmntai does not apply to
assignments of those rights. :k-K+e+,eF-A contractual right to payment under a license or an
assignment or other transfer of an interest in intellectual property, including, for example, a
licensor's right to payment of a royalty or license fee under a contractual license of intellectual
property, is a receivable, and, accordin. the Convention does apply to assignments of those
rights to payment.]
Article 4. Exclusions and other limitations
2. This Convention does not apply to assignments of receivables arising under or from:
(e) The transfer of security rights in, sale, loan or holding of or agreement to repurchase securities
or other financial assets or instruments held with an intermediary;
[Understanding: The United States understands that paragraph (2) of article 4 (with respect to](ViewImageLocal?handle=hein.nccusl/nccpub00978&div=1&collection=&method=preview&ext=.png&size=3)