Trade in receivables is carried out in two ways: directly and indirectly. Direct trading involves the purchase of receivables for recovery or further resale, or the exchange of receivables. Indirect trading is, among others, factoring. The turnover of claims is regulated by the provisions of the Civil Code. In accordance with art. 509 § 1 of the Civil Code, the creditor (assignor) may assign (transfer) the claim, i.e. without the debtor’s consent, transfer it to a third party (assignee), unless it would be contrary to the law, contractual reservation or liability. Most often, due receivables are sold, i.e. those whose payment deadline has already passed. As a rule, the cost of the assigned claim is lower than its nominal value. It is worth remembering that together with the debt, all related rights are transferred to the buyer, in particular claims for overdue interest. The subject of the assignment may be any claim, if only it is transferable. It should be remembered, however, that the transfer of claims may relate only to such claims that before the conclusion of the contract the third party was not entitled to the debtor.
Receivables that cannot be transferred are:
- right of repurchase,
- the right to life imprisonment,
- compensation claims for tort / delict; exceptions are claims that are already due and recognized in writing or granted by a final court judgment,
- shareholder in a civil law partnership.
In addition, in respect of certain categories of claims, there are restrictions on their sale, and therefore on transfer, which makes their sale dependent on the existence of certain specific conditions, e.g.
- pledge – it can only be transferred together with the claim it secures,
- the tenant’s claim against the lessor – it can only be transferred if the lessor agrees to it,
- ordinary mortgage – it can only be transferred together with the claim it secures.
A claim may not be transferred if the property of the obligation contradicts it
For example, you cannot transfer: the right to maintenance, the right to authorship, claims under a surety contract, claims under a specific work contract. The institution of the transfer of receivables can be used by both banks and in trade, in relations between entities conducting business activity. Worth remembering! Assignment – derived from the Latin word cessio and means voluntary withdrawal, transfer, transfer, abandonment, deprivation, transfer of receivables. Assignor – the assigner , the one who assigns, transfers his rights to something to another entity. Assignee – a person to whom the assignment was made.