In our autumn edition we commented on the draft Business Contract Terms (Assignment of Receivables) Regulations 2018 which have now come into force and apply to the terms of any qualifying contract entered into on or after 31 December 2018.
The regulations aim to facilitate access to finance for businesses by nullifying terms in certain business contracts which prohibit or restrict the assignment of receivables. You can find our previous report with more detail on the scope of the regulations here.
Draft Business Contracts Terms (Assignment of Receivables) Regulations 2018
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
