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

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.

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

7. Receivables financing assignment of receivables.

6. Receivables financing assignment of receivables.

Receivables

Other receivables

Deposit

Deposit

Assignment of receivables

VI. Other Receivables

Direct deposit

Manual deposit

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,

Certificate of Deposit

Statement Deposit Details

Boston Safe Deposit

It was observed that the use of the term quot original contract quot might introduce uncertainty, since, in some relationships (e.g., deposit account relationship), it might not be easy to determine the contract from which the receivables arose.

(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.

4110 Advance import deposit

Date of deposit of

No safe deposit keys?

A note of caution was struck, however, that if the assignment of receivables arising from deposit accounts were to be covered, the provisions of the draft Convention dealing with assignability and form of the assignment might need to be reconsidered.

(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

C. Deposit and due publicity

(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