MODEL LAW ON FACTORING ONLINE CONSULTATION

 

The draft Model Law on Factoring consultation document can be downloaded here.

 

The International Institute for the Unification of Private Law (UNIDROIT) is conducting an online consultation on the draft Model Law on Factoring.

 

The online consultation will run for 12 weeks from 29 July until 21 October 2022.

 

The purpose of the consultation is to:

  1. Raise awareness about the instrument.
  2. Ensure that the instrument is well suited to application in different contexts, including both civil law and common law jurisdictions as well as developing economies, emerging markets, and developed economies.
  3. Seek feedback from parties engaged in factoring on whether the instrument sufficiently addresses issues that arise under existing legal frameworks and will improve factoring arrangements in those States that implement the Model Law.
  4. Solicit comments on the drafting of the instrument itself.

 

The public consultation has three aspects:

  1. The launch of this webpage on the UNIDROIT website allowing interested parties to access the draft Model Law on Factoring and facilitating the submission of comments.
  2. The circulation of the draft Model Law on Factoring directly to interested parties.
  3. The organisation of one or more consultation events to discuss the content of the draft instrument with stakeholders.

 

The Consultation Document (which includes the draft Model Law on Factoring itself) is available at the following link: https://www.unidroit.org/wp-content/uploads/2022/08/Study-LVIII-A-draft-Model-Law-on-Factoring-consultation-document-29-July-1.pdf 

 

Comments on the draft MLF should be submitted to the UNIDROIT Secretariat at MLFconsultation@unidroit.org by 21 October 2022.