Apart from these, tax policy and welfare expenditure have been instrumental over a long period of time in transferring income from the higher to the lower income groups.

(a) The assignor has the right to assign the receivable

Transfer of rights securing the assigned receivables

(27) As regards other business income, it is required to list by category (like income from transfer of intangible assets, lease income and guarantee income) the amount at current year, the amount at last year and the percentage increase or decrease item by item.

(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

(q) Assignor means the person that makes an assignment of a receivable.

In the case of a subsequent assignment, the person that makes that assignment is the assignor and the person to which that assignment is made is the assignee.

Assignment of receivables

(3) A receivable assigned by the assignee to a subsequent assignee is transferred notwithstanding any agreement limiting in any way the assignor apos s right to assign its receivables.

(b) A right securing payment of the assigned receivable may be transferred notwithstanding any agreement between the assignor and the account debtor or other person granting that right, limiting in any way the assignor's right to assign the receivable or the right securing payment of the assigned receivable

(i) Another assignee of the same receivable from the same assignor, including a person who, by operation of law, claims a right in the assigned receivable as a result of its right in other property of the assignor, even if that receivable is not an international receivable and the assignment to that assignee is not an international assignment

(r) Assignee means the person to which an assignment of a receivable is made.

7. Receivables financing assignment of receivables.

6. Receivables financing assignment of receivables.

V. ASSIGNMENT IN RECEIVABLES FINANCING 252 256 54

Scope of application 125 145 31 Article 2.

3. Assignment in receivables financing

2. A right securing payment of the assigned receivable is transferred under paragraph 1 of this article notwithstanding any agreement between the assignor and the debtor or other person granting that right, limiting in any way the assignor's right to assign the receivable or the right securing payment of the assigned receivable.

(a) Assignments of international receivables and to international assignments of receivables as defined in this chapter, if, at the time of conclusion of the contract of assignment, the assignor is located in a Contracting State and

(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

(b) The assignor has not previously assigned the receivable to another assignee and

quot (1) A receivable is transferred to the assignee notwithstanding any agreement between the assignor and the debtor limiting in any way the assignor apos s right to assign its receivables.

(b) The conditions under which the assignment of the receivable, the transfer of the negotiable instrument or the transfer of the negotiable document can be invoked against the account debtor, the obligor on the negotiable instrument or the issuer of the negotiable document and

1. An assignment of a receivable is effective notwithstanding any agreement between the initial or any subsequent assignor and the debtor or any subsequent assignee limiting in any way the assignor's right to assign its receivables.

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.

1. If proceeds are received by the assignee, the assignee is entitled to retain those proceeds to the extent that the assignee's right in the assigned receivable had priority over the right of a competing claimant in the assigned receivable.

(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.

(1) This Convention applies to international assignments of receivables and to assignments of international receivables by the initial or any other assignee to subsequent assignees, even if the initial assignment is not governed by this Convention.

The law should provide that the following matters are governed by the law of the State whose law governs an assigned receivable, a transferred negotiable instrument or a transferred negotiable document

It's addressed to you, care of me.

quot (a) a receivable arising up to the time of the assignment is transferred at the time of the assignment and

quot 1. If a receivable is assigned several times, the right thereto is acquired by the assignee whose assignment is of the earliest date.

(d) Notification of the assignment means a communication in writing that reasonably identifies the assigned receivables and the assignee

(a) Personal or property rights securing or supporting payment of the assigned receivable are transferred to the assignee without a new act of transfer.

(a) This Convention does not apply to such types of assignment or to the assignment of such categories of receivables if the assignor is located at the time of conclusion of the contract of assignment in such a State and

IV. Assignment in receivables financing

(a) The assignor has received the proceeds under instructions from the assignee to hold the proceeds for the benefit of the assignee and

As regards commission income, it is required to make disclosure of the amount of such income at current period and last period by category (income from application fee, income from redemption fee, income from transition fee and income from subscription fee).

As between assignees of the same receivable from the same assignor, the priority of the right of an assignee in the assigned receivable is determined by the order of conclusion of the respective contracts of assignment.

(b) Existing receivable means a receivable that arises upon or before conclusion of the contract of assignment and future receivable means a receivable that arises after conclusion of the contract of assignment

As between assignees of the same receivable from the same assignor, the priority of the right of an assignee in the assigned receivable is determined by the order in which notification of the respective assignments is received by the debtor. However, an assignee may not obtain priority over a prior assignment of which the assignee had knowledge at the time of conclusion of the contract of assignment to that assignee by notifying the debtor.

Revolving fund for sales publications Estimates of gross and net revenue

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

III. DRAFT CONVENTION ON ASSIGNMENT IN RECEIVABLES FINANCING 18 235 6

It was observed that, in view of the risk that, after the conclusion of the contract of assignment, the assignor might assign the same receivables to another assignee or become insolvent, it was essential to set the time of the transfer of the assigned receivables at the time of the conclusion of the contract of assignment.