Reforming the Financing Contract for the Assignment of a Monetary Claim: Preconditions, Content and Results

The author in his graduate qualification work provides a comprehensive study of the reforming of the financing contract for the assignment of monetary claim in the Russian Federation. The purpose of this work is the analysis of the reforming of the financing contract for the assignment of monetary claim, its preconditions, content and results. The main tasks are the review of the basic preconditions of factoring reform in Russia and its legal regulation in foreign countries; the analysis of the key amendments of civil legislation in the field of factoring; the assessment of the results of factoring reform. In the first chapter the author identifies the main milestones in the development of the factoring agreement, namely, that it emerged from intermediary agreements in the early XX century in the USA and England and only then spread in a modified form to Europe. In Russian law it appeared only in the second half of the XX century and before the adoption of the Civil Code of the Russian Federation it was regulated by the general rules of cession. As a result of the study of foreign legislation identified the characteristic features of factoring in different countries. In general, the legal regulation of factoring in the USA, England, Germany and France is quite similar, except for some features. Thus, in the U.S. there is mainly regressive factoring, in England, on the contrary, non-regressive. In Germany, factoring is constructed on the model of sale and purchase, while in France the equivalent of assignment in the form of contractual subrogation is created. In the second chapter, the author formulated the main amendments of the factoring reformation, defined the types of factoring agreement in the Russian legislation (classical or pure factoring, security factoring, collection factoring), as well as the features arising from this division. It was established that due to changes in the Civil Code, the Russian legislation has come closer to the international legal regulation of the factoring contract. The author also revealed the nature and features of the factoring agreement by comparing it with other contractual types: purchase and sale of rights, credit or loan, agency agreement.