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.

7. Receivables financing assignment of receivables.

6. Receivables financing assignment of receivables.

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

After discussion, the Working Group confirmed its tentative decision that tort receivables should be covered and requested the Secretariat to reflect that decision by listing tort receivables in the scope provisions, possibly in draft article 2(2), and to prepare any additional provisions that might be necessary to address issues arising in an assignment of tort receivables.

(2) The provisions of articles 26 to 28 apply to assignments of international receivables and to international assignments of receivables as defined in this Chapter independently of paragraph (1) of this article.

Receivables

4. The provisions of chapter V apply to assignments of international receivables and to international assignments of receivables as defined in this chapter independently of paragraphs 1 to 3 of this article. However, those provisions do not apply if a State makes a declaration under article 39.

Note 7. Provision for uncollectible contributions 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).

Other receivables

Assignment of receivables

VI. Other Receivables

(e) Harmonized and streamlined procedures for monitoring receivables and remittances.

Note 12 Other receivables

Note 12 Other Receivables

Revaluation of contributions receivables

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.

(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

Provision is made for account receivables for which no reasonable expectation of recovery exists.

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.

(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

Documentation had been improved and the receivables outstanding for 2003 had dramatically reduced.

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

(iv) to encumber the assigned receivables with the expenses of the insolvency administrator in maintaining, preserving or enforcing the receivables at the request and for the benefit of the assignee

(2) Assignment includes the transfer of receivables by way of security for indebtedness or other obligation, or by any other way, including subrogation by agreement, novation or pledge of receivables.

(3)loans and the account receivables and

Transfer of rights securing the assigned 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

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

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