A Study On Factoring Legal Issues

Factoring is a comprehensive financial services, specifically refers to the seller signed a contract with the FCI, credit transfer service contract receivables generated by the sale to the factoring providers or suppliers to provide factoring financing, sales account management, behavioral and collection of accounts receivable credit risk control in one or more of service. It was born in the 19 th century, the United States, initially in the textile industry has been developing rapidly. 1960 s US factoring industry in Britain after a combination of the characteristics of the factoring industry, forming a complete content of modern factoring. In recent years, Chinese factoring industry show to the world is a magical set of data, and is proportional to the data of China’s economic development to take off for 30 years, from 2008 onwards, China’s export factoring business volume ranks first in the world; in 2011, factoring business volume of China’s overtaken Britain to become the world’s largest factoring market. Such a development pomp and various regions of China in recent years issued a number of supporting the development of the factoring industry of normative documents and policies are inseparable, but factoring industry market scale growth, the factoring industry standardization of development is still difficult, even more and more marginalized. Apart from the economic downturn in the background, Tao Feizhai rampant and other objective factors, there are industry attributes, internal deletions, various reasons and credit institutions and other legal environment makes our factoring industry has entered a slow growth path.In recent years, though there are professionals and many legal experts and professors began to get involved in this field, which conduct special studies and research, but in the area of judicial practice remains somewhat controversial. I will use a comparative analysis in this paper, the methods of theoretical analysis and literature study, relevant research to explore two aspects of basic legal relationship from factoring Factoring substantive analysis and problem analysis conducted, including the legal basis of the factoring business, legal nature Theoretical analysis of the legal relationship, focusing on legal issues in the practice of factoring receivables assignment of claims, and finally to improve our system of legal system factoring make personal suggestions and ideas.Paper is divided into four parts: The first part, basic definitions and types of factoring business factoring analysis, introduces the current development of factoring business. The second part is the focus of this article, theorists recognized that for a variety of doctrines factoring contract legal nature of the legal nature of factoring contracts to review and summarize the basic problem of factoring by exploring and comparing the current contract. The third part, by factoring in the relevant laws and practice two cases, further summed up some of the legal issues facing factoring business development of our country. In this process, we will focus on the legal issues related to the transfer of receivables involved. Including the effectiveness of the future transfer of accounts receivable, to discuss the effectiveness of prohibiting the transfer after the transfer of accounts receivable and accounts receivable notification of the assignment of effectiveness, combined with analysis of the existing legal system, factoring system loopholes, make personal recommendations and views. The fourth part the author will discuss aspects of our regulatory, operating and dispute resolution mechanisms of the factoring industry is facing, and proposed specifications improve our factoring proposal to promote policy innovation, and make breakthroughs in the judicial impasse.