A contemporary overview of the factoring agreement

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dc.contributor.authorCarvalho, Sónia de
dc.date.accessioned2021-09-06T14:10:06Z
dc.date.available2021-09-06T14:10:06Z
dc.date.issued2021-07
dc.description.abstractModern factoring resulted from the adaptation, in the 15th and 16th centuries, of the Atlantic trading posts to the commercial activity between England and the United States, in which, by virtue of their intensity, commercial warehouses took on a more financial than commercial feature. In the course of this evolution, these intermediaries, in addition to the distribution and consultancy tasks, began to guarantee the fulfilment of the transaction (del credere factors), often granting advances to European producers on the price of goods before sold. The factors thus became known as the 'financiers of European industry'. This sophistication of the intermediary conceived in European merchant schemes was at the origin, between the 16th and 19th centuries, of the colonial factoring, the predecessor of the modern factoring, in which the factor, in addition to distributing the products of European exporters, with special focusing on the textile field, in the New World markets, start collecting its credits, which in the meantime were assigned to it, and financing, through the provision of advances on sales. Later, colonial factoring gave way to old line factoring, which has assumed since the beginning a financial nature, providing a new range of services. In the old line classic scheme, the factor thus assumes four essential tasks: collection and management of assigned credits; provision of consultancy services; financing through the granting of advances on assigned credits and guarantee of the debtor's compliance and solvency. The financing role is undoubtedly one of the main reasons that motivate the use of this contract. Indeed, the need to attain financing, in addition to banking, with a greater incidence in times of credit restriction, is pointed out by many authors as one of the main justifications for the use of factoring in Europe. The crisis currently experienced worldwide following the Pandemic COVD 19 and the role that this contract can play in the economic recovery, through the financing the SMEs, justifies the analysis of the evolution of this contract, as well the legal framework in Portugal.pt_PT
dc.identifier.citationCarvalho, S. (2021). A contemporary overview of the factoring agreement. In I.Silberstein, T. Bonneau, C. E. P. Tache, L. P. Dobarganes, K. Muscheler, & C. Hunt (Eds), Banking Law in the 21st Century (pp. 87-115). ADJURIS – International Academic Publisher. Disponível no Repositório UPT, http://hdl.handle.net/11328/3648pt_PT
dc.identifier.isbn978-606-94978-8-3
dc.identifier.urihttp://hdl.handle.net/11328/3648
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherADJURIS – International Academic Publisherpt_PT
dc.relation.publisherversionhttp://www.adjuris.ro/editura.htmlpt_PT
dc.rightsopen accesspt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectFactoringpt_PT
dc.subjectFinancingpt_PT
dc.subjectContractpt_PT
dc.subjectPortugalpt_PT
dc.titleA contemporary overview of the factoring agreementpt_PT
dc.typebook partpt_PT
degois.publication.firstPage87pt_PT
degois.publication.lastPage115pt_PT
degois.publication.titleBanking Law in the 21st Centurypt_PT
dspace.entity.typePublicationen
person.affiliation.nameIJP - Instituto Jurídico Portucalense
person.familyNameCarvalho
person.givenNameSónia de
person.identifier.orcid0000-0003-2069-820X
person.identifier.ridH-1423-2016
relation.isAuthorOfPublication87902608-a870-427e-ba4e-cf5d2ef10eb3
relation.isAuthorOfPublication.latestForDiscovery87902608-a870-427e-ba4e-cf5d2ef10eb3

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