Study On Legal Issues Of Assignment Of Account Receivables In International Factoring

International factoring, which is a new international settlement, consists of four characteristics: purchase of account receivables, management of account receivables, credit guarantee principles, financing function. With the globalization and the form of purchaser's market, letter credit, as a traditional settlement, is facing great challenges and is gradually discarded by trader. Meanwhile, international factoring, which has a lot of advantages as above, has replaced L/C's important role in international settlement and become the mirror of non-L/C. According to statistics, in Europe and America, international factoring has accounted at least 85% of trading settlement, and L/C has reduced to 5%. As a new strength, international factoring is playing a more and more important role in international trade stage.As there are differences in historic trace and financial customs, each country's understanding of international factoring differs a bit and the related regulation also have some differences. Nowadays, there are few countries issue special law or regulation on international factoring. Most countries regulate international factoring with their civil law or commercial law. In worldwide range, with the development of international factoring, many factors established various non-governmental organizations, and the of-most influence one is Factors Chain International, which has more than 160 members. FCI issues some international factoring relating regulations and every member abide by voluntary. As the regulations are reasonable and can satisfy the need of development of international factoring, many non-members also apply to their international factoring.International factoring business first occurs in China in 1990s, Bank of China, as the pathbreaker, actively grope for the best ways and assimilate the advanced experience of western countries, and has joined the FCI. Up to now, there are totally 12 Chinese factors join the FCI. The international factoring business in China has achieved great progress these years.As mentioned above, there are few countries issue special laws or regulations on international factoring, because the legal essence of international is assignment of account receivables, therefore, whether the regulations on assignment of account receivables can satisfy the need of development of international become very significant. The solution of this problem can sweep the way for the development of international factoring. Therefore, writer of this thesis tries to analyze the different regulations on assignment of account receivables and related conventions and treaties, looking forward to summarize the suitable experience for China's development of international and give reference to Chinese legislative department.The first chapter of this thesis gives an introduction of legal issues on assignment of account receivables. The first section, after giving the definition, historic origin, status in quo of international factoring, the writer points out the importance of developing international factoring business in China; the second section, the writer introduces the basic legal relationship of international factoring; and base on the above two sections, the writer points out in the third section that the legal foundation of international factoring is assignment of account receivables, which is the essence of this thesis. In the second chapter, the writer puts emphasis on analyzing the legal requirements of assignment of account receivables in international factoring. It is the basis of assignment of account receivables. In the third chapter, the writer analyzes the rights conflicts easily occur in assignment of account receivables and the means of resolution, after which the legal obstacle of international factoring has been swept. In the end, the writer analyzes the defect of our country's laws and regulations concerning the assignment of account receivables in international factoring. Based on the advanced experience of other countries, the writer gives suggestions on the perfection of our international factoring regulations and looking forward to make some contribution to the legislation if possible.