Application of Factoring in Business Operations
Application of Factoring in Business Operations

Summary/Abstract: Assignment of receivables as an institution of current civil law is rooted in ancient legal systems. The abovementioned institution was introducedto the Polish legal system under the Code of Obligations of 27 October1933. This solution occurs in various specific forms serving various legaland economic goals, beginning with the satisfaction of claims of individu-als, to securing a claim, to improvement of financial liquidity of the as-signor. Thanks to the constant development of the above legal institution it functions in numerous legal systems and constitutes a real support insecuring business transactions and making them more efficient.

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