A Study On The Priority Rules Of The Assignment Of Receivables In International Factoring

International factoring is a synthetic financial service including at least two of the four functions: finance for the supplier, management of account relating to the receivables, collection of receivables and protection against the credit risks. The importer benefits from buying on open account terms without the burden to open letters of credit or other payment terms which have a restrictive character, and the supplier can offer his foreign customers competitive open account terms more safely. Under such circumstance, International Factoring has become more and more popular in the world, and has expanded rapidly over the past twenty years.International factoring involves several parties such as suppliers, importers and factors, among who exist complex relationships including each party's rights and duties. There are many legal issues arise from the assignment of receivables, which is the core of international factoring. Especially, the conflicts between the international factors and the third parties happened frequently. Usually, the resolution of these legal issues will depend on the effectiveness of the assignment of receivables and whether the international factors can acquire perfect right on the receivables. Because of various business practice, different legal systems about international factoring and relative rules in the world, plus its short history, international factoring has not yet built its legal framework. And there are no complete and standard rules to settle the conflicts between the international factors and the third parties.Strong growth was seen in china in the past few years, since its short development history, the theory research on international factoring in China lags behind the present practice. In the respect of conflicts between international factors and third parties, no priority rule could be found. This situation hinders us from keeping up with the world trade pace. So, it is urgent to set up a perfect legal framework of international factoring, establish reasonable priority rules. Firstly, this thesis begins with the analysis of assignment of receivables, which is the core of international factoring.Secondly,it explicates the respective settlement of various kinds of conflicts in the world through a comparative study, and then reviews the priority rules provided in the . Finally, this thesis makes an inductive analysis of...