the Convention. (5) United States-based lenders are less willing to make loans secured by receivables owed by debtors located outside the United States, as such cross-border transactions may involve countries the laws of which are inconsistent with modern financial practices. (6) Because of the risk, cost, and uncertainty created by receivables financing laws in other countries, which vary greatly or can be vague or unpredictable, the ability of small and medium-sized United States businesses to access financing from lenders using international accounts receivables derived from exports or other cross-border transactions is severely limited. (7) Expanded access to receivables financing in international trade, which the Convention would promote, will provide United States businesses with an additional source of capital at no cost to the United States taxpayer, benefitting small and medium-sized businesses that use receivables financing. (8) The Convention is consistent with article 9 of the United States Uniform Commercial Code, as adopted by all 50 States, the District of Columbia, and the territories of Puerto Rico and the Virgin Islands. (9) The Convention includes extensive rules on the use of receivables to finance operations, using receivables as collateral, and how to resolve potential conflicts of law arising from the use of receivables. (10) Adoption of the Convention would establish more predictability and uniformity with respect to receivables financing in cross-border transactions, thereby opening up new opportunities for trade and economic growth between the United States and its partners in the developing world. (11) The Senate consented to ratification of the Convention in January 2019. (12) The President ratified the Convention in October 2019. (b) Sense of the Senate It is the sense of the Senate that the Secretary of State should, in the regular course of economic dialogues with developing countries that are partners of the United States, promote the adoption and implementation of the Convention