Article: Cross-Jurisdictional Factoring Contract Assessment: A British- Greek Assignment Law Comparison

Abstract

The aim of this paper is to provide a comparative analysis on key issues in the assignment of debts for factoring contracts, which have become increasingly popular in recent years. The goal is to address key systemic problems, by comparing the UK rules to the Greek legal system. Specifically, the focus is on three key issues. First, the nature of the agreement, including the differences of assignments in law and in equity, the issues of assigning future debts and of non-assignment clauses. Second, giving notice to the debtor for the factoring company to vest with its client’s rights and the problem of what rights the factor obtains when there is a reservation of title, meaning that the assignee’s supplier has reserved their title on the goods, which are then further sold to the assignee’s clients. Third, the assignment of related rights, which is not automatic in the UK system. Commercial law, business law, corporate finance, comparative law, factoring agreements, assignment of debts, notice of assignments, transfer of related rights, double reservation of title