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Civil law. Part II. Rights and obligations of the parties under a financing agreement for the assignment of a monetary claim (factoring) (the most important)

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82. RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THE AGREEMENT OF FINANCING UNDER THE ASSIGNMENT OF A MONETARY CLAIMS (FACTORING)

Responsibilities of a financial agent: to finance the client by transferring the price of the contract (cash) in the manner prescribed in the contract; accept from the client the necessary documentation for accounting of the client's operations in specially stipulated cases; provide the client with other financial services related to monetary claims, cat. are the subject of an assignment (for example, to make settlements through the correspondent network of a financial agent); provide the debtor (at his request) within a reasonable time with proof that the assignment of the monetary claim to the financial agent actually took place. If the latter does not fulfill this obligation, the debtor has the right to make payment to the client on this demand in fulfillment of his obligation to the latter; return to the debtor the funds received in pursuance of a monetary claim, if the financial agent has not fulfilled its obligation to make the promised payment to the client related to the assignment of the claim, or has made such a payment, knowing that the client has violated that obligation to the debtor, to the cat. the payment related to the assignment of the claim; provide a report to the client and transfer to him an amount exceeding the amount of the client's debt secured by the assignment of the claim.

The financial agent has the right receive money from the debtor. are the subject of the assignment of the claim provided for by the contract after this right has arisen.

Client Responsibilities: assign or undertake to assign to the financial agent the client's monetary claim against the debtor, arising from the provision by the client of goods, the performance of work or the provision of services to the debtor (in this case, there is a change of persons in the obligation); transfer to the financial agent documents certifying the right to claim and provide information relevant to the implementation of the claim; notify the debtor in writing of the assignment of the monetary claim; pay for the services of a financial agent.

Obligations of a debtor who is not a party to the contract: make a payment to the financial agent, provided that he received from the client or from the financial agent a written notification of the assignment of the monetary claim to this financial agent and the notification specifies the monetary claim to be fulfilled, and also indicates the financial agent, cat. payment must be made; make a payment on this monetary claim to the client in fulfillment of its obligation to the latter, if the financial agent does not provide him with proof that the assignment of the monetary claim to this financial agent actually took place.

The debtor has the right not to fulfill a monetary claim to a financial agent, if the client has performed his obligation to the debtor improperly. If the client is aware of the improper performance of his obligation, the assignment of the claim under this obligation will be invalid.

The fulfillment of a monetary claim by the debtor to the financial agent releases the debtor from the corresponding obligation to the client.

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