The Rights of the Financing Contract in the Field of International Trade with an Emphasis on The Agency Contract
Abstract
The financing contract is a very important topic that must be examined with great care, other contracts in the light of the general principles and rules governing the contract. The importance of determining the nature of the financing contract in the aforementioned way in the world is due to the effects that come upon it by specifying the nature, for example, if we consider the financing contract as the sale of receivables or if we consider it as a mortgage contract, it has different legal effects. In this way, if we consider it as a type of sales contract, the result is that the buyer of accounts receivable (the agent) becomes the owner of the accounts receivable and has ownership rights over it, and in case of bankruptcy of the seller, the agent does not bear any risk and is among the creditors of the seller. Accounts receivable are not included, while if we consider it as a type of loan agreement with the collateralization of accounts receivable, a different legal situation arises, such that, for example, with the bankruptcy of the seller, the agent must be among the seller's creditors, and according to According to the bankruptcy rules, the claimant should collect because the ownership right has not been transferred to the agent in the recent assumption. The importance of determining the nature of the financing contract in Afghanistan doubles, because in addition to the legal effects mentioned above, it affects the identification and legal recognition of this financing institution for its use in Afghanistan. The question is whether we can make the financing contract, which is used in most of the countries of the world and has a great role in facilitating trade, compatible with the current regulations of Afghanistan and definite or indefinite contracts that are stipulated by it.
Keywords
References
- Bakker, M. R., Udell, G. F., & Klapper, L. (2004). Financing small and medium-size enterprises with factoring: Global growth and its potential in Eastern Europe (Vol. 3342). World Bank Publications.
- Black’s Law Dictionary Garner. (1999). (Ed. A, G.A. Bryan). (7th Edition). West Group.
- Garner, B. A. (2004). Black’s law dictionary 8th edition. St Paul Minnessota: West Publishing Co.
- Klapper, L. (2005). The role of factoring for financing small and medium enterprises. Journal of banking & Finance, 30 (11), 3111-3130.
- Nereus, J. (1987). The legal nature of the factoring contract. S. African LJ, 104, 88.
- Phillips, AS, & Bedeian, AG (1994). Lider-takipçi değişim kalitesi: Kişisel ve kişilerarası niteliklerin rolü. Yönetim Akademisi Dergisi, 37 (4), 990-100.
- Sarıgül, H. (2012, June). Factoring as a financing option in Turkey: A comparative study. International Istanbul Finance Congress, Istanbul Okan University.
- UNIDROIT, Report on the contract of factoring. (1976). Available at.
- http://www.unidroit.org/english/studies/study
- http://www.ulcc.ca.
- https://goo.by/cfNrbF
- https://goo.by/uDLLiZ
- http://law.alphaleader.com/enshownews.asp?id=2 74.
- https://www.solh.ir/book/8
- https://t.ly/qP7sh
- https://tinyurl.com/ycystj85
- https://t.ly/dH6OL
The Rights of the Financing Contract in the Field of International Trade with an Emphasis on The Agency Contract
Abstract
The financing contract is a very important topic that must be examined with great care, other contracts in the light of the general principles and rules governing the contract. The importance of determining the nature of the financing contract in the aforementioned way in the world is due to the effects that come upon it by specifying the nature, for example, if we consider the financing contract as the sale of receivables or if we consider it as a mortgage contract, it has different legal effects. In this way, if we consider it as a type of sales contract, the result is that the buyer of accounts receivable (the agent) becomes the owner of the accounts receivable and has ownership rights over it, and in case of bankruptcy of the seller, the agent does not bear any risk and is among the creditors of the seller. Accounts receivable are not included, while if we consider it as a type of loan agreement with the collateralization of accounts receivable, a different legal situation arises, such that, for example, with the bankruptcy of the seller, the agent must be among the seller's creditors, and according to According to the bankruptcy rules, the claimant should collect because the ownership right has not been transferred to the agent in the recent assumption. The importance of determining the nature of the financing contract in Afghanistan doubles, because in addition to the legal effects mentioned above, it affects the identification and legal recognition of this financing institution for its use in Afghanistan. The question is whether we can make the financing contract, which is used in most of the countries of the world and has a great role in facilitating trade, compatible with the current regulations of Afghanistan and definite or indefinite contracts that are stipulated by it.
Keywords
References
- Bakker, M. R., Udell, G. F., & Klapper, L. (2004). Financing small and medium-size enterprises with factoring: Global growth and its potential in Eastern Europe (Vol. 3342). World Bank Publications.
- Black’s Law Dictionary Garner. (1999). (Ed. A, G.A. Bryan). (7th Edition). West Group.
- Garner, B. A. (2004). Black’s law dictionary 8th edition. St Paul Minnessota: West Publishing Co.
- Klapper, L. (2005). The role of factoring for financing small and medium enterprises. Journal of banking & Finance, 30 (11), 3111-3130.
- Nereus, J. (1987). The legal nature of the factoring contract. S. African LJ, 104, 88.
- Phillips, AS, & Bedeian, AG (1994). Lider-takipçi değişim kalitesi: Kişisel ve kişilerarası niteliklerin rolü. Yönetim Akademisi Dergisi, 37 (4), 990-100.
- Sarıgül, H. (2012, June). Factoring as a financing option in Turkey: A comparative study. International Istanbul Finance Congress, Istanbul Okan University.
- UNIDROIT, Report on the contract of factoring. (1976). Available at.
- http://www.unidroit.org/english/studies/study
- http://www.ulcc.ca.
- https://goo.by/cfNrbF
- https://goo.by/uDLLiZ
- http://law.alphaleader.com/enshownews.asp?id=2 74.
- https://www.solh.ir/book/8
- https://t.ly/qP7sh
- https://tinyurl.com/ycystj85
- https://t.ly/dH6OL
Details
| Primary Language | Turkish |
|---|---|
| Subjects | Economic Models and Forecasting |
| Journal Section | Articles |
| Authors | |
| Early Pub Date | October 14, 2024 |
| Publication Date | November 29, 2024 |
| Submission Date | August 17, 2024 |
| Acceptance Date | September 10, 2024 |
| Published in Issue | Year 2024 Volume: 11 Issue: 5 |
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