Zhiming Lecture Hall Session Five — Legal Knowledge Lecture on Factoring Contracts in the Civil Code

On the afternoon of July 28, 2020, the fifth session of the "Zhiming Lecture Hall" sharing lecture hosted by Guangdong Zhiming Law Firm was live-streamed on the Tencent Classroom platform. The theme of this lecture was "Legal Knowledge Lecture on Factoring Contracts in the Civil Code," and Li Zuolin, a trainee lawyer at Guangdong Zhiming Law Firm, served as the guest speaker.

 
Li Zuolin, Trainee Lawyer at Guangdong Zhiming Law Firm

 
This live lecture mainly discussed factoring contracts in the Civil Code, analyzed what factoring contracts are, and covered the development history and current status of commercial factoring in China. During the session, the operational model of commercial factoring was also mentioned. Finally, through specific legal provisions, the legal risk analysis and prevention for factoring companies were further clarified.
 
During the interactive session, participants engaged in a heated discussion on common controversial issues in factoring cases. The lecture was presented in an accessible way, and everyone expressed that they had gained a lot. At the end of the lecture, attendees hoped that more similar lectures could be held in the future, allowing for shared discussions and exchanges while enhancing their professional expertise.
 
In China's social life and judicial practice, a large amount of commercial factoring already exists. However, previously, substantive laws such as the General Principles of Civil Law and the Contract Law did not provide clear regulations on commercial factoring. The lack of legal provisions and insufficient theoretical research could lead to irregular factoring practices or even industry chaos. The explicit inclusion of factoring contracts in the Civil Code not only serves as a guiding light for relevant practitioners but also represents an important step in improving China's legal system and economic development.