UNIDROIT Consultation Process on the Draft Model Law on Factoring

Comments may be submitted until 21st October

The International Institute for the Unification of Private Law (UNIDROIT) has launched a Consultation Process on the Draft Model Law on Factoring .

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 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.

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