Revised Laws of Saint Lucia (2023)

78.   Notification of security interest to debtor of receivables

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    (1)   A grantor or secured creditor may give the debtor of receivables notification of the security interest and a payment instruction, and after notification of the security interest has been received by the debtor of receivables, the secured creditor may send a payment instruction.

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    (2)   Notification of a security interest or of a payment instruction sent in breach of an agreement between the grantor and the secured creditor is not ineffective for the purposes of section 82, and this section does not affect an obligation or a liability of the party in breach for damages arising as a result of the breach.