LawgistThe Factoring Regulation Act
13Assignor to be trustee of assignee
Notwithstanding anything to the contrary contained in any other law for the time being in force, where a debtor makes any payment to an assignor which represents payment due on an assigned receivable, such payment shall be deemed to be for the benefit of the assignee, and the assignor shall be deemed to have received the amount of such payment as a trustee of the assignee and the assignor shall make payment of such amount to the assignee.
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RIGHTS AND OBLIGATIONS OF PARTIES TO CONTRACT FOR ASSIGMENT OF RECEIVABLES
- 11 Rights and obligations of parties to contract for assignment of receivables
- 12 Liability of debtor
- 13 Assignor to be trustee of assignee
- 14 Liability of debtor in case of an assignor being mircro or small enterprises
- 15 Principle of debtor protection
- 16 Defences and right of set off of debtor
- 17 Modification of original contract
- 18 Breach of contract
