Abstract
Abstract The term ‘receivables’ is usually used to describe debts owed to (and therefore ‘receivable’ by) an enterprise. While it does not have a precise legal defi nition,3 it should include but is not limited to ‘book debt’ and connotes all monetary obligations owed to a business in Singapore underpinning its cash fl ow. Some examples of receivables are rent issuing from land or personal property, freight,6 and bank loans. Many receivables would qualify as ‘book debts’. ‘Book debts’ have been defi ned as debts arising in the ordinary course of business of a trader as would normally be entered in properly kept books of a company engaged in a business of that kind whether or not in fact entered.
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