Research On Legal Issues Of The Receivables Assignment In International Factoring

In the background of the economic globalization, the international trade is developing rapidly and the buyer’s market is formed gradually. This intense competition in the international market makes the traditional trade settlement face great challenges. International factoring is a kind of the comprehensive financial service industry, which includes trade finance, assignment of accounts receivable, sales account management and so on. As a new type of the trade settlement, international factoring reduces the exporters’trading risks and enhances its competition ability. These benefits make it gradually replace the traditional trade settlements such as letter of credit and becomes the main trade settlement in the Europe and the United states. Considering the international factoring is playing a more and more important role in the promotion of the international trade, our country should develop and promote the international factoring in order to meeting the fierce competition of international trade. In addition, compared with other countries, China’s international factoring business is in the slow development statement, which is caused by two reasons. One is that the international trade parties can not understand factoring business thoroughly. The other is that our domestic laws and regulations are not comprehensive and has certain differences comparing the international legislation, which restricts its development. This paper will use the comparative research methods and basic legal principles of the civil and commercial law to study the international factoring nature of the premise and its core problems—assignment of accounts receivable from the legal point of view. The first part of this paper briefly explain the general theory of the international factoring including its concept, the development course and its function in the international trade; The second part is about the legal basis of the international factoring. After discussing the several different theories, this article puts forward its view. The third part is about the legal problem of assignment of account receivable. The last part studies the basic legal framework of the international factoring in our country and puts forwards the legislative proposals for the existing problem.