Factor is the name for a buyer, who does not sell goods or securities for his own account, but against a commission and sells, sees commission sales issues.

After the conclusion of the remark business the factor has the following obligations in accordance with "§ 384 exp. 2 HGB:

• It must give the necessary information to the Kommittenten and account over the remark business placing; the person third call.
• It must publish the Kommittenten everything, which it for the execution of the commission receive ("§"§ 675, 667 BGB) and from the management of affairs attained ("§ 384 HGB). The purchasing agent transferred the property to the acquired commodity to the Kommittenten too or the requirement on conveyance to surrender and a used purchase price advance not to refund. The selling agent has the Kommittenten the received money, to retire if he kept it cash to convey after "§ 929 BGB or the demand for purchase price not fulfilled yet against third after "§ 398 BGB. It must transfer the possession at not sold commodity back.

Articles in category "Factor"

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