Distinguish between the following: Assets Backed Securitization (ABS) and Future Flow Securitization (FFS).

Asset Backed Securitization (ABS): Securitisation of receivables which are "existing" i.e., the obligation of the Obligor to make payments is not dependent on further action or performance by the Originator. E.g., Mortgage-backed receivables, auto receivables securitisation and hire purchase rental receivables. Future Flow Securitization (FFS): Securitisation of receivables which are to be generated in the "future" i.e. the obligation of the Obligor to make payments depends on further substantial performance by the Originator. E.g. typical FFS receivables are trade receivable (long term), electricity receivables and toll road receivables.