China's Development Of The Legal Issues Of International Factoring

With the development of international trade, the buyer occupies a position of dominant importance in the transaction, and the buyer's market is gradually formed. Because the payment pattern of letter of credit has several disadvantages, the buyer who occupies dominant position often doesn't want to adopt the payment pattern. Although O/A and D/A accords with the interests needs of buyer, the seller's right of receiving cash is usually not ensured. By means of the function of international factoring, the seller's right of timely receiving cash is ensured. With the development of productive forces and technology, the global market is formed, the price and the quality of cargo is unified, and in order to get the competing superiority, the exporter should compete in the payment pattern. To meet the needs of the buyer's market, the international factoring arises at the historic moment.The international factoring originated in the end of the 19th century, at first it developed from American's trade procuration, and it developed in the globe from 1960s. After our country joined WTO, the commercial bank in our country is confronted with the challenge of the sharp competition with foreign-funded bank and the rise of domestic and foreign customers, and the international factoring is one field of financial service which needs to be opened up immediately. And the emergence of international factoring challenges the legal system every country ,and our country is no exception. This article studies the definition and legal relationship of international factoring, and analyzes the necessity of the development of international factoring and legal risk and countermeasure during the development in our country, and then puts forwards the perfection and legislative idea of international factoring in our country. This dissertation has five parts, about 50000 characters.Part one is the brief account of international factoring. Firstly, the dissertation describes the origin and history of international factoring, and on the basis of the comprehensive analysis of different views, the author forms the definition if international factoring. Secondly, the dissertationclassifies the factoring in five kinds of angle. Besides, the dissertation introduces operating procedure and functioning mechanism. Finally, the dissertation introduces three international factoring organization and the international convention and practice regulating international.Part two is the study of the legal relationship of international factoring business in our country. Firstly, the dissertation analyzes the rights and obligations between the parties of international factoring. Secondly, the dissertation emphatically analyzes the essence of the legal relationship of international factoring, namely the assignment of credit and the legal problem involved in the assignment of credit. Then, the dissertation discusses the interests conflict between mortgagee, prior supplier and the third party and the superiority which is aroused by the assignment of receivable account. Besides, the dissertation discusses the assumption of credit risk which is aroused by international factoring and the approval of credit degree. Finally, the dissertation makes a comparison between the legal relationship of international factoring, agency by agreement, obligation pledge, credit insurance to make distinct the character of the legal relationship of international factoring.Part three discusses the necessity of the development of international factoring in our country. Firstly, the dissertation analyzes the advantages of international factoring as one kind of method of settling accounts and comprehensive financial service and makes a comparative study of collection, letter of credit and international factoring. Secondly, the dissertation describes the development and operating character of international factoring in our country, and analyzes the leading cause why the international factoring develops sluggishly and the necessity of the development of international factoring in the respecti...