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Where any trade receivables are fnanced through a Trade Receivables Discounting System (TReDS), the concerned TReDS on behalf of the Factor shall, within a period of _____ days from the date of such assignment or satisfaction thereof, as the case may be, fle with the Central Registry the relevant details.
20 days
30 days
7 days
10 days
15 days
- Trade Receivables Discounting System (TReDS) is a platform to facilitate the financing of trade receivables.
- When trade receivables are financed through TReDS, the factor needs to file details with the Central Registry.
- The filing should be done within a specific timeframe after assignment or satisfaction of debt.
Options Explained:
- Option 1 (20 days): Suggests one could take up to 20 days for this filing.
- Option 2 (30 days): Proposes a 30-day window.
- Option 3 (7 days): Implies a much shorter, week-long period.
- Option 4 (10 days): Traditionally accepted and noted standard for such filings.
- Option 5 (15 days): Offers a slightly extended period over a week.
The correct answer is Option 4 - 10 days. This means that details should be filed within this timeframe from the date of assignment or satisfaction.
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