保理合同常见的英文表达

保理合同常见的英文表达
Common English Expressions in Factoring Contracts.
Factoring, also known as accounts receivable financing, is a financial transaction where a business sells its outstanding invoices or accounts receivable to a third-party factoring company at a discount. This transaction allows the seller to obtain immediate cash flow while offloading the credit risk associated with waiting for customers to pay. Factoring contracts, therefore, play a crucial role in governing the rights and obligations of the parties involved.
Here are some common English expressions found in factoring contracts:
1. Parties to the Contract:
Seller/Principal: The business selling its accounts receivable.
Factor: The third-party company purchasing the accounts receivable.
Debtor/Customer: The party obligated to pay the invoice.
2. Description of the Transaction:
Assignment of Receivables: The seller assigns its rights to the debtor's payment to the factor.
Discount Rate: The percentage deduction applied to the invoice amount paid by the factor to the seller.
Factoring Fee: The cost charged by the factor for providing factoring services.
3. Obligations of the Seller:
Representation and Warranty: The seller represents and warrants that the invoices are valid, accurate, and not
subject to any disputes.
Collection Efforts: The seller agrees to cooperate with the factor in collecting payments from debtors.
Notification Obligation: The seller must notify the factor of any changes in the debtor's payment status or creditworthiness.
4. Obligations of the Factor:
Payment Obligation: The factor agrees to pay the seller the discounted amount of the invoices in a timely manner.
Credit Risk Management: The factor assumes the credit risk associated with the debtor's payment default.
Collection Efforts: The factor is responsible for collecting payments from the debtors.
5. Termination and Early Repurchase:
Termination of Contract: The contract can be terminated under certain conditions, such as breach of contract by either party.
Early Repurchase Option: The seller may have the option to repurchase the accounts receivable from the
factor before the contract expires.
6. Governing Law and Jurisdiction:
Choice of Law: The contract specifies the applicable law governing the rights and obligations of the parties.
Jurisdiction: The contract designates the
jurisdiction in which any disputes arising from the contract will be resolved.
7. Confidentiality and Data Protection:
Confidentiality Obligation: The parties agree to keep confidential any sensitive information disclosed
during the factoring transaction.
Data Protection: The factor must comply with applicable data protection laws and regulations when handling personal data.
8. Other Provisions:
Force Majeure: The contract may include provisions addressing events of force majeure, such as natural disasters or government actions, that may affect the performance of the parties.
Assignment and Subcontracting: The contract may specify any restrictions on the seller's or factor's ability to assign their rights or subcontract their obligations under the contract.
Entire Agreement: The contract states that it constitutes the entire agreement between the parties and supersedes any prior agreements or understandings.
Factoring contracts are complex legal documents that require careful attention to detail. The above expressions provide a general overview of some of the key terms and provisions commonly found in factoring contracts. However, it is always advisable to consult with legal professionals when entering into any financial transaction to ensure that your rights and interests are protected.。