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Financing through the Assignment of Receivables (factoring) in the Iranian legal system
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Diba Jafari   1, Mansour Amini2 |
1- PhD student of Shahid Beheshti University , dibajafari1@gmail.com
2- Associate Professor of Shahid Beheshti University |
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Abstract: (1791 Views) |
Factoring is a continuous contract in which the sellers of goods/services finance themselves by handing over all or part of their claims to the receiving company (invoice). In addition to financing, the other tasks such as accounting, debt collection and protection against debtor's default may also be delegated to the factor. Despite the long history of factoring regulations in many countries of the world, the history of legislation in Iran in this regard reaches three years. The contract was firstly entered to the Iranian legislative literature by Article 8 of the “Law on Maximum Use of Production and Service Capacity of the Country and Protection of Iranian Goods” approved in 2018, and described with more details to the legal and financial system with the approval of the executive by-law of the aforementioned law in 2019.
In this article, we intend to evaluate the nature of this contract in Iran's legal system with the descriptive-analytical method and using library resources, in order to inspect whether the regulations have been able to Enter the factoring contract with international standards into our legal system? According to the research, although entering the factoring contract into our legislative literature, is appropriate and necessary; But the current regulation has not moved our legal system in the direction of joining the usual global approach as it should. Limiting the effect of the factoring contract to the assignment of claims, focus on government contracts, the need to conclude a tripartite contract by persons not subject to Article 2 of the law, and the lack of a detailed explanation of the characteristics of receivables that can be assigned are some of the defects of the regulation, that some suggestions has been made for rectifying them |
Article number: 15 |
| Keywords: Assignment of Receivables, Credit Transfer, Factor, Factoring, Financing |
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Full-Text [PDF 607 kb]
(2147 Downloads)
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Article type: Research |
Subject:
Special
Received: 2022/04/16 | Accepted: 2022/10/4 | Published: 2023/03/1
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