The International Institute for the Unification or Private Law (UNIDROIT) unveiled its recently adopted Model Law on Factoring at FCI’s 55th Annual Meeting, which was held Oct. 29-Nov. 2 in Morocco.
UNIDROIT originally adopted its Model Law on Factoring in May. According to the organization, the law “provides a complete, self-standing legal regime that facilitates factoring transactions.”
In an interview with Trade Finance Global, Jose Ignacio Tirado, the secretary general of UNIDROIT, provided and in-depth look at the law, noting that it is “easy to interpret and implement.”