On the Rules for Determining Pure Future Claims in Factoring Contracts Abstract:

Abstract

The market economy's strong demand for the rapid flow of assets has led to the determination of the transfer - ability of pure future claims, but the uncertainty of pure future claims also poses a threat to the stability of the market order, and therefore a set of rules is needed to judge its eligibility. While the current civil normative system does not address this issue, the "expectability" rule, which has been spontaneously developed in judi - cial practice, also runs the risk of being impractical and of interfering too much with commercial autonomy. By introducing the rule of "identifiability", combining both "horizontal" and "vertical" considerations, we can establish more objective and operable rules while recognising the transferability of purely future claims in a wider context. The transferability of pure future claims is recognised on a broader scale; this is complemented by a registration system to further safeguard the stability of the trading order.