Inventory and Supply Chain Finance
20 Pages Posted: 28 Sep 2018
Date Written: May 1, 2018
Abstract
This paper was written as part of the policy paper series produced by the Secured Transactions Law Reform Project, which exists to consider the need for and shape of reform in this area of law in the UK, as well as to study and inform discussion about the reform of secured transactions law around the world. The paper is a working paper intended to stimulate discussion.
This discussion paper examines the law on inventory finance, particularly the law on retention of title clauses and its relation with invoice financing. It examines different options and models for reform involving registration and/or re-characterisation of the clause as a security interest from the UCC, Quebec and Commonwealth Personal Property Security Acts. It examines the alleged shortcomings of the English law after the decisions in Caterpillar and Bunkers. The appendices provide extracts of relevant non-UK legislation - eg registration provisions of the Quebec Civil Code.
Keywords: Secured Transactions Law, Retention of Title Clauses, Registration, Re-Characterisation
JEL Classification: K22
Suggested Citation: Suggested Citation