Article 824: Financial contract for assignment of monetary claim

1. Under a financial contract for assignment of monetary claim (factoring contract), one party (client) undertakes to assign money claims to the other party — the financial agent (factor) — to the third party. The financial agent (factor) undertakes to perform at least two of the following actions relating to the monetary claims that are the subject of the assignment: (1) :: Transfer money to the customer against monetary claims, including in the form of a loan or advance payment (vans); (2) account for the client ' s cash claims against third parties (values) (c) To exercise rights in respect of the customer’s cash claims, including monetary claims against debtors, payments from debtors and payments relating to money 2. The obligations of the financial agent (factor) under the factoring contract may include the maintenance of 3. In the part not regulated by this chapter, the provision of other services to the client relating to monetary claims that are the subject of the assignment is attributable to the accountant. 4. The rules of chapter 24 of the present Code apply to the parties to a contract of factoring in relation to the assignment of the right of claim. to which monetary claims are assigned and which require a party to perform one or more of the acts referred to in subparagraphs 1 to 4 of paragraph 1 of this article 5. If, by virtue of the factoring contract, a financial agent (factor) is obliged to pay the price of the money claims it has purchased, to lend to the client (credit) or to provide to the customer The rules applicable to the relationship of the parties to the factoring contract are the rules of sale, loan (credit) and reimbursement of services, respectively, as this is not contrary to the provisions of the insistence. This is the chapter and substance of the factoring contract relationship.