Study On The Issue Of Assignment Of Claims In Factoring Business

Factoring is a new trade settlement and financing tool.During the process of the factoring study,on the one hand,we need focus on the complex contractual arrangements in factoring business resulting complex functions,on the other hand,we still need to focus on the quasi real right of the factoring contract.We should consider both he general theory of the assignment of claims in domestic legislation,and the rule to promote the flow of creditor's rights in international legislation.In this paper we talk about the legal nature of factoring,the constituent elements and the effectiveness of the assignment of the receivable accounts in factoring.It also summarizes the national legislation and international legislation,looking for the flawless of legislation in our legal framework and putting forward a proposal.This article is divided into five Parts.The first part introduced the general theory of domestic factoring,including the concept,characteristic,classification,and the history of factoring,as well as analyzing the legal relationship of factoring.Part two introduced the relevant legal issues involves the transfer of debt factoring.We have concluded from the first part that the nature of factoring should be characterized as the transfer of the accounts receivable.At this part we focused on the characteristics of the factoring to distinguish with general transfer of creditor's rights.We also summarize the legal nature of the transfer of account receivable.Although the principle of non-property is more suitable for factoring development,but we do not need to make special provisions of law to undermine our unity to legislation.Factoring contract parties may agree the rule of non-property by themselves.At the third part we talked about constituent elements of the receivables transfer,at this part we focus on the scope of the subject matter of transferable credit,particularly restrictions on legal restrictions.Especially for the problem of the assignment of future receivables and the effect of assignment that can not transfer.The notice of assignment of claims to a third party have three legislative styles,including the liberalism,registration and notice style.No matter what kind of legislation was notified cases of Credit shall be composed of specific rules.For the body,methods and analysis time of notification,are responding to accelerate the transfer of credit requirements.At the fourth part,the effectiveness of assignment of creditor's rights is demonstrated in two aspects:the first is the internal validity and the second is external validity.The internal validity is the effectiveness on the assignor and assignee;external validity includes effectiveness to the debtor and effectiveness on another person in addition to the debtor.Accounts receivable as a general creditor,which experienced a process from possession to usage in economic life.The exchange value of accounts receivable has experienced a process from gradually recognized to a growing importance.Therefore,as the human rights of accounts receivable,the assignment not only affect the debt,but also increasingly affect the realization of the rights of third parties.The fifth part is the legislative proposals in transferring accounts receivable of factoring.Now the domestic legislation is limited to the civil law and contract law and regulations of the general rules.Therefore,we should learn the provisions of other countries to improve the domestic legislation,and strive to reduce barriers of business factoring development.Of course,my proposal is a preliminary opinion,domestic legislation should focus on rich functionality of factoring business,and combined the receivables transfer contract and quasi-property rights,as well as consider the balance between efficiency and equity.