Research On Legal Problems Of The Receivables Assignment In International Factoring

In the process of economic globalization, international trade has become one of the most important aspects of world-economies. In the recent two decades, the ever-intensified trade competition and the simplification of trading procedures challenge the traditional trade payment by way of Letter of Credits (L/C). International Factoring, with its advantages of reducing the trade risk on open-account, is being accepted and utilized worldwide.However, International Factoring developed very slowly in China for many reasons. In author's opinion, it is partly due to China's underdeveloped legal environment, which cannot secure the legitimate rights of the parties in International Factoring. Starting with the identification of its legal characterization, this dissertation will analyze China's current legislative structures with the focus on its application on International Factoring with comparison to several developed countries and international conventions. Further, this dissertation is going to advise on China's further improvement with regard to facilitating the development of China's International Factoring industry.After introducing its common problems in partâ… , this dissertation proves and clarifies that the legal foundation and core of International Factoring is a kind of Debt Cession, then makes a thorough, deep and systematical research on its main and fundamental legal problems in partâ…¡. In partâ…¢, this dissertation expands the conditions of a valid receivables assignment in International Factoring. Then the author expands the internal and external validity of the receivables assignment in International Factoring, and the order of priority in payment among the various claimants in partâ…£. At last, combining the Contract Law of the Peoples'Republic of China and analyzing the legislation on the International Factoring, this dissertation studies the basic legal framework of the International Factoring in our country, on which basis some legislation suggestions to regulate and prompt the International Factoring are given.