The UAE Factoring Law was issued on 29 August 2021, published on 9 September 2021 and comes into effect on 7 December 2021. It builds on the UAE Movables Security Law and clarifies that future receivables can be sold prior to their coming into existence. This clarification will greatly assist those participating in the UAE trade finance market, bringing ever-greater certainty to CFOs, corporate treasurers and trade financiers alike. Please see full Publication below for more information.
