Older Uniform Acts

International Factoring (Unidroit Convention) Act

April 1996

(1995 Proceedings at page 48)

Interpretation

1.    In this Act, "convention" means the Convention on International Factoring set out in the Schedule.

Request to declare

2.     The Minister of (ministry/department) shall request the Government of Canada to declare that the convention extends to (enacting jurisdiction).

Convention in force

3.     The convention comes into force in (enacting jurisdiction) on the first day of the seventh month after the date the Government of Canada declares, in accordance with the convention, that the convention extends to (enacting jurisdiction).

Publication of date

4.    The Minister of (ministry/department) shall publish in the (name of publication) the date the convention comes into force in (enacting jurisdiction).

Regulations

5.    The Lieutenant Governor in Council may make any regulations that are necessary to carry out the intent of this Act.

Application
6.    The convention applies to all contracts within the scope of the convention unless the parties to a contract agree otherwise in accordance with the convention by express provision in the contract.

This Act prevails

7.    Where there is a conflict between this Act and any other enactment, this Act prevails.

Coming into force

8.    This Act comes into force on assent.

For Jurisdictions that need a declaration under Article 18, the following provision should be added:

An assignment under Article 6(1) of the convention is not effective against the debtor where the debtor has its place of business in (enacting jurisdiction) when the contract for the sale of goods is concluded.