THE INTERNATIONAL DIRECT FACTORING: KEY SCHEMES OF CARRYING OUT, PROBLEMS AND WAYS OF THEIR DECISION
Journal Title: Вісник Одеського національного університету. Правознавство - Year 2016, Vol 21, Issue 1
Abstract
In the article there is investigated a number of problems which can arise at implementation of the international factoring, and it is offered concerning ways of their overcoming. There are considered the options of direct international factoring implementation: in a case when the debtor and a factor are in the territory of Ukraine, and the client is abroad; in a situation if the client and a factor are residents, and the debtor is nonresident; in a case the factor is in the territory of Ukraine, and the debtor and the client are abroad; in a situation when the client is in the territory of Ukraine, and the debtor and a factor are abroad. Problems which are the most typical in each of the specified situations are defined, and separate ways of their solution are proposed. The most widespread is the design when the client and a factor are residents, and the debtor – the nonresident. At its use it is necessary to pay attention that in the presence of the general license of the National Bank of Ukraine for implementation of currency transactions and banks, and the factoring companies have the reasons for providing financing to the clients in foreign currency without obtaining the corresponding individual license, including on condition of the status of the resident of Ukraine at both treaty parties. For the prevention of emergence of conflict situations this situation needs to be enshrined in the letter explanation of the National Bank of Ukraine. Has to be constructed such letter on those bases that money in the form of foreign currency in case of the international regression factoring by the nature is financing, service, but not an instrument of payment. In a situation when the factor is in the territory of Ukraine, the debtor and the client – abroad, a key problem is danger of assignment on a factor of responsibility for a non-return of currency revenue. This situation is possible when factoring with financing which is provided to the client in payment of a factor from the debtor is carried out. The foreign exchange legislation of Ukraine establishes rather rigid norms concerning return of currency to the country that can lead to the fact that in case of not receipt to a factor of means in 90 days it will bear the responsibility specified in the Law of Ukraine “About a procedure of payments in foreign currency”. Moreover, in this case establishment of sanctions for violation is repaid as acts as a barrier to abuses. It is also necessary to tell that even establishment in the contract of the right of regress of a factor to the client is not sufficient for a solution as the situation when also the client is not able to transfer funds in time is probable. By a possible exit in this case it is seen insurance of the corresponding risks.
Authors and Affiliations
A. V. Tokunova
Keywords
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