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| Financial Agent Share | As was marked above, the money requirement can be conceded to the financial agent in exchange for given credit resources, and also for maintenance of execution any of the obligations. As the financial agent is more often bank establishment, it is logical to assume, that the obligations which have arisen most likely on the credit contract are meant.
In this connection rights of the financial agent for the sums received from the debtor, will be various.
So, if on conditions of the factoring contract the financing of the client is carried out by purchase at it by the financial agent of the money requirement, the agent gets the right for all sums, which it will receive from the debtor in the performance of the requirement.
Thus the client does not bear the responsibility before the agent that the sums, received by it have appeared less price, for which the agent has got the requirement.
Let's return to the very first example, considered by us, when by the client under the contract of factoring the large civil engineering firm having a plenty of the customers and constantly requiring for financial assets acted. The financial agent under the contract of factoring was bank, which financed of activity of firm and for the certain compensation took up duties on collecting from the customers - debtors of money resources.
At such design of the relations the bank should mean, that in accounts with the customers it will get the right for all sums, which to it(him) will manage to be received from the debtor - builder. Their size can exceed the sum of the credit, given to a civil engineering firm, (that testifies to benefit of bank), and can be and less this sum. The civil engineering firm does not bear any responsibility before bank that last has not received the profit from the perfect bargain.
Differently occurs in cases, when the money requirement is conceded to the financial agent with the purposes of maintenance of execution to it of the obligations of the client. It is connected that obligation passes to the financial agent only in that part, in which the client has not executed the requirement of bank, as their execution this concession and should ensure.
If the financial agent has collected from the debtor under the conceded requirement the sum exceeding sum of the debt of the client, it is obliged to give the client the report and to transfer it the sum of a difference.
If the money resources received by the agent from the debtor will appear less sum of the debt of the client, last remains responsible before what was said above by the agent for the rest of the debt.
For example, if the distribution of the credit to a civil engineering firm is made under concession of the money requirements of firm to the customers about payment of objects of construction, in a case of nonrecurring of the credit the bank can pay in the advantage only sum equal to the sum of the credit, percents on it, losses caused by delay of execution, and also compensation of the necessary charges of bank on collecting debts of the client.
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