(b) Financial contracts governed by netting agreements, except a receivable owed on the termination of all outstanding transactions

(t) Account debtor means a person liable for payment of a receivable.

In paragraph 43, the Board indicated that UNODC agreed with the Board's recommendation to define a write off policy of its long outstanding receivables and clear its old outstanding accounts receivable.

Assessed contributions amounting to US 4,284,502 and or representing 25 per cent of the total contributions receivable in the biennium were outstanding.

5. Urges once again those Member States which have outstanding balances on foreign tax accounts receivable to provide the reimbursement due to the Fund

During the 2004 2005 biennium, the Tribunal has made great improvements in accounts receivable, specifically with respect to former employees and their outstanding receivables.

Contributions receivable

(b) Existing receivable means a receivable that arises upon or before conclusion of the contract of assignment and future receivable means a receivable that arises after conclusion of the contract of assignment

(i) Accounts receivable other

(e) Accounts receivable other

Reimbursement commitments are reflected in the account only to the extent of available funds with the outstanding balance indicated by a footnote to the account.

(v) Original contract in the context of an assignment means the contract between the assignor and the account debtor from which the assigned receivable arises.

In paragraph 73 of the report, UNDP agreed with the Board's reiterated recommendation that it review on a regular basis the complete ageing of accounts receivable with a view to collecting long outstanding amounts.

Aging analysis of contributions receivable

Accounts receivable are presented in statement II, net of a provision of 2,581,147 for doubtful accounts receivable comprising

The voluntary contributions receivable balance in statement II represents contributions outstanding from donors after year end currency revaluation, the details of which are reflected in schedule 1 for 2004 and schedule 2 for prior years.

As at 31 December 2004, contributions outstanding to the special account for Buildings Management from the VBOs are 4,815,676.

(n) Provision for doubtful accounts receivable

Note 6 Provision for accounts receivable

Inventory and receivable revolving loan financing

The policy of making an allowance of 10 per cent of non United States dollar denominated outstanding accounts receivable as at 31 December as a provision for delays in the collection thereof, is discontinued effective 31 December 2003.

As at 31 December 2003, the accumulated balance on the special account was 8,443,792, including an account receivable of 5,146,319 due from other organizations in the Vienna International Centre (VIC), of which 4,617,457 was due from the International Atomic Energy Agency (IAEA) alone.

(i) Another assignee of the same receivable from the same assignor, including a person who, by operation of law, claims a right in the assigned receivable as a result of its right in other property of the assignor, even if that receivable is not an international receivable and the assignment to that assignee is not an international assignment

This includes a receivable of 3,414,060 due from IAEA.

The advance to the Working Capital Fund of 26,000 is still outstanding and the credit in the special account for UNTAG is now 37,712.

Apart from the estimated uncollectable amounts, recorded under the provision for doubtful accounts receivable, we expect all significant accounts receivable at 31 December 2004 to be collected.

(a) The assignor has the right to assign the receivable

The monthly review of accounts receivable is currently being undertaken.

This includes contributions receivable in the amount of US 1,447,600.

In addition, a comprehensive review of the receivable and payable accounts is being conducted to prevent netting off of the accounts payable against the accounts receivable and vice versa.

When the revenue is recognized, it is recorded as a receivable.

Comment by the Administration. UNDP has designed the accounts receivable report.

All relevant decisions had been taken into account in the preparation of the study, including the Fund's business plans and the outstanding commitments of the Fund.

Outstanding problems

(a) If payment in respect of the assigned receivable is made to the assignee, the assignee is entitled to retain the proceeds and goods returned in respect of the assigned receivable

(p) Assignment means the creation of a security right in a receivable or the transfer of a receivable, whether the transfer is for security purposes or is an absolute outright transfer.

More seriously, an astounding 89.2 of the IMF s General Resources Account is outstanding to European countries, with just three countries (Greece, Portugal, and Ireland) accounting for 68 .

(q) Assignor means the person that makes an assignment of a receivable.

2. A right securing payment of the assigned receivable is transferred under paragraph 1 of this article notwithstanding any agreement between the assignor and the debtor or other person granting that right, limiting in any way the assignor's right to assign the receivable or the right securing payment of the assigned receivable.

Outstanding contribution pledges

(b) The assignor has not previously assigned the receivable to another assignee and

Nevertheless, Member States should authorize the Secretariat to apply outstanding credits to outstanding assessed contributions.

Outstanding problems and solutions

Provision is made for accounts receivable for which no reasonable expectation of recovery exists.

The age of contributions receivable is as follows, in thousands of United States dollars