Assignment Of Account Receivable In International Factoring

As a new international settlement, the international factoring is situated between the commercial and bank credit settlements, which is suitable to the popular Non-L/C settlement style for its four following advantages and characteristics: payment function, credit guarantee principles, financing function and reasonable expense.After the entrance of WTO, the proportion of international trade of our conrtry will be improved greatly, which requires a more effective, convenient and accurate international settlement In the near future, the international factoring will have a rapid development in a more wide range, so it seems more necessary and urgent to set up a more applicable and healthy international factoring system in China. Based on such a consideration, from the view of law I make an analysis and comprehension of the new international settlement-international factoring, and hope it will contribute much more directional meaning in practice.The first part of my thesis sets up a whole outline about international factoring by describing its origin, definition and operative procession in details. Nowadays, the international factoring is totally different from the business agents in early time, and it is the typical symbol of modem factoring that therelationship of bargainer and factor has changed from trustor and trustee to assignor and assignee, which is also the precondition to begin my thesis.There are two kinds of law principles for factor to take the creditor's rights in the international factoring: the principle of credit rights assignment and discharging subrogation by faith. Through the principles comparison among various countries, I think the international factoring operative system in Germany is more valuable for our country-the standard factoring is non-recourse factoring, which will provide a more effective environment for the factoring development in our country without ambiguity. The assignment of the account receivable is the precondition for the whole procession of the international factoring, so it is the key point to have an objective and correct comprehension of the assignment of the account receivable. For the further and clear illustration of rights and responsibilities for the relative participators in the international factoring, I provide a thorough description about the assignment of account receivable, the validity of the assignment, the payment of the assignment, the inner and outer influence of the assignment to support my opinion. What is more, by comparing the differences between the international factoring and short-term trade financing to emphasize the legal characteristics of international factoring itself.Based on the analysis of the assignment of the account receivable, the primary legal view of the international factoring, and connecting with thecurrent market demanding and practical business development situation in our country, I put forward the measures to establish and improve the legal environment of our international factoring.Actually, the international factoring is a comprehensive financial service, the assignment of account receivable could not cover all its legal characteristics, so I hope I have chances to widen and deepen the understanding and study of the international factoring in the following days.