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The missing piece of the puzzle: the adoption of the UNIDROIT Model Law on Factoring
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The International Institute for the Unification of Private Law (UNIDROIT) has just adopted the UNIDROIT Model Law on Factoring after three years of negotiations. The UNIDROIT Model Law is the newest addition to the international legislative framework for receivables finance, building upon earlier important instruments developed by both UNIDROIT and UNCITRAL. The UNIDROIT Model Law is well positioned to improve access to credit for micro, small, and medium-sized enterprises involved in global supply chains, in the face of increasingly difficult international economic headwinds.
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