UNIDROIT Unveils Model Law on Factoring

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.”