Факторингът

Abstract

The scope of the dissertation is confined to Factoring and the Factoring Contract. The distinction and the correlation between these legal phenomena determine the structure of the dissertation. The dissertation contains an introduction, three chapters and conclusion.

The first chapter illustrates the three basic factoring services and namely: financing, credit protection, accounting (ledgering) and collection of receivables. It is emphasized, that factoring as a legal phenomenon includes two contracts: a contract for sale of goods or for supply of services between the supplier and its customers (debtors), on the one hand, and a factoring contract between the supplier and the factor, on the other hand. The aim of the first chapter is to analyze the generally used forms of factoring as well as the developments of the factoring and the appearing of the financial factoring also called modern factoring. The chapter examines the legal nature of factoring by distinguishing from other similar legal phenomena. It is concluded that factoring is a new legal phenomenon in Bulgarian law.

The second chapter analyzes the sources of the Law of the factoring contract. The law rules concerning the factoring contract are to be found in the UNIDROIT Convention on International Factoring and in the national legislation. It has been explained in which circumstances the factoring contract is regulated by the UNIDROIT Convention and by the law rules containing in the Bulgarian legislation. The important aspects of the factoring contract are also considered. It is proposed to introduce some amendments to the legislation concerning factoring contract. This chapter summarizes the legal nature of the factoring contract through discussing all types of the factoring contract. The factoring contract is distinguished from similar legal phenomena in the Bulgarian legislation. It is concluded that this contract is a requited cession. It is concluded also that the law rules concerning the cession are respectively applicable to the factoring contract both because of the similarities and the distinctions between these two legal phenomena.

The third chapter examines three most important problems which often arise in domestic and international trade, namely: the prohibition of the assignment of receivables in the contract for sale of goods or for supply of services between the supplier and its customers (debtors); the type of objections the debtor can set up against the factor; defence of the debtor in case of non-performance, defective or delayed performance of the contract for sale of goods. The arising of these problems is explained through the legal nature of the factoring