DiKE Der Factoringvertrag im schweizerischen Recht

Many companies face the problem that large portions of their current assets are tied up in receivables from customers (debtors). The capital tied up in debtors can be particularly problematic for companies with weak capital resources, as they must continuously pay their short-term liabilities (creditors), wages, rents, etc., while also waiting for payments from their customers. Additionally, the administrative burdens associated with debt collection can be a significant strain for many companies. If a customer's creditworthiness is uncertain, it raises the question of whether the effort for debt collection is worthwhile in light of the potential loss from the debtor. In such situations, entering into a factoring agreement can be beneficial. Under a factoring agreement, outstanding receivables are assigned to a specialized company (factor or factoring company), which takes care of the accounts receivable and collection, provides immediate liquidity to the contracting partner by advancing the receivables, and assumes the credit risk for the assigned receivables. Depending on the structure of the contract, the factoring company may take on all or only part of the aforementioned tasks. This St. Gallen dissertation examines in detail the treatment of factoring agreements under Swiss law. After presenting the economic and legal foundations of the factoring agreement, the legal qualification of the factoring agreement under Swiss law is discussed, with a focus on the various forms of factoring agreements. Another key focus is on assignment law issues, which are also significant beyond factoring. Special attention is given to the central assignment of future receivables in factoring.