Study Of Legal Issues Of The Assignment Of Aecounts Reeeivable In Factoring Contract

Factoring is a comprehensive financial service system.The origin of modern factoring can be traced back to the end of the nineteenth Century.The seller transfer the receivables caused by the potentially basic contract they signed or maybe sign with buyer in the future,and then factor provide at least one kind of service of the following: financing service,organizing sales account,collecting receivables,guaranteeing bad debts.The origin of modern factoring can be traced back to the end of the nineteenth Century.Factoring business was introduced to China market in around 1987.Since then,China has replaced European and American countries to be the most traded country in factoring business after nearly 30 years' development.But as we start the business late,there's imperfection in the laws,regulations and social credit system.There's so many controversies in factoring contract are to be solved.To some extent,all of the above problems regulate futher development of factoring business.In terms of law,the core of factoring business is the transfer of accounts receivable,so most of the problems in the implement of factoring contract are based on the transfer of accounts receivable.Factoring business involves factoring,suppliers and debtor these three parties.The legal relation is complex.Solving problems caused by transferring accounts receivable is essential to the development of factoring business.Therefore,Based on existing laws and regulations,this paper systematically discuss four typical problems of factoring contract implement,--the nature of determination for transferring accounts receivable;the information for transferring accounts receivable;the prohibition for transferring accounts receivable and the transferability for future accounts receivable.Comparing the relevant legislation at home with abroad to point out the problems in China's current legal system--the existing laws and regulations on the transfer of accounts receivable is unclear and the legislation is lagging.I suggest that our country perfect legislation to accelerate the circulation of creditor,protect the transaction security and promote the development of economy by combining with the characteristics and the practical demand of factoring financing.