What Is a Debtor Collection Period?

Creditors (creditors) mainly refer to prepayers, the right subjects who have the right to request other parties for specific behaviors, refer to those institutions and individuals that provide repayable financing to enterprises, including institutions or individuals that provide loans to enterprises (loan creditors) And institutions or individuals (commercial creditors) that provide short-term financing in the form of sales of goods or services.

Creditor debtor

Creditor debtor concept

A debtor (debtor) usually refers to a person who is obliged to pay creditors in a debt-relation relationship in accordance with the provisions of laws, contracts, and contracts. In financial accounting terms, a debtor is an entity or individual who owes money to others. Simply put, the debtor can also be understood as the buyer, and the corresponding creditor can be understood as the seller.

The debtor can be a citizen or a legal person, and the state can also qualify as a debtor when it appears as a civil subject.

Creditor debtor legal obligation

In the debt relationship, the debtor is obliged to undertake to the other party (creditor) a certain behavior or not according to the agreed terms.

In the debt relationship, the debtor is specific, and only the subject of the obligation must assume the obligations to the creditor to deliver property, provide labor services, and do or do not perform certain actions.

Creditor debtor legal rights

The Contract Law, based on the principle of fairness, gives debtors many rights:

1. Performing the right of defense at the same time. In a dual service contract, if one party that should perform concurrently has evidence to prove that the other party cannot perform at the time of simultaneous performance or cannot perform as agreed, it has the right to retain its payment obligation. This right to retain payment is to perform the defense at the same time. right. Article 66 of the Contract Law stipulates that: "If the parties have mutual debts and there is no order of performance, they should be performed simultaneously. One party has the right to refuse its performance requirements before the other party performs. One party has the right to refuse when the other party's performance of the debt does not meet the agreement Its corresponding performance requirements. "

2. Perform the right of defense later. In a dual service contract, the party that should perform first fails to perform or fails to perform as agreed, and the other party that has reached the deadline for performance enjoys the right of non-performance and partial non-performance. This right is the right of defense for later performance. Article 67 of the Contract Law stipulates: "If the parties have mutual debts and there is a sequential order of performance, if the party performing first fails to perform, the party performing later has the right to refuse its performance requirements. If the party performing first fails to fulfill the obligations, then The performing party has the right to refuse its corresponding performance request. "

3. The right of uneasy defense. The right of uneasy defense is also called the right of first performance, which means that after the dual service contract is established, the party that should perform first has evidence to prove that the other party cannot perform its obligations, or there is a possibility that it cannot perform its contractual obligations. The unilateral right to suspend the performance of the contractual obligations. Article 68 of the Contract Law stipulates that: "The party that should perform the debt first, if there is clear evidence that the other party has one of the following circumstances, may suspend performance:

(1) The business conditions have deteriorated severely;

(2) transferring property and withdrawing funds to avoid debts;

(3) loss of commercial reputation;

(4) Other circumstances where there is a loss or potential loss of ability to perform debts. If the parties do not have precise evidence to suspend performance, they shall bear the liability for breach of contract. "It needs to be explained that if a party suspends performance of its obligations in accordance with the above provisions, it shall promptly notify the other party. When the other party provides appropriate security, it shall resume performance. After the suspension of performance, the other party fails to restore performance within a reasonable period of time and fails to provide appropriate security The party who suspends performance may terminate the contract.

Fourth, the right to invalidate the defense of the claim. Article 52 of the Contract Law states: "The contract shall be invalid if:

(1) One party concludes a contract by means of fraud or coercion, which harms national interests;

(2) malicious collusion that harms the interests of the state, the collective, or a third party;

(3) concealing illegal purposes in legal forms;

(4) harming public interests;

(5) Violating the mandatory provisions of laws and administrative regulations. "Invalid contracts are not legally binding from the beginning and are terminated if they have not been performed; if they have already been performed, the property acquired by the parties due to the contract shall be returned; if they cannot be returned or are not necessary to be returned, they shall be compensated at a discount. If both parties are at fault for the loss suffered by the other party, both parties shall bear their respective responsibilities. If the parties engage in malicious collusion and damage the interests of the state, the collective, or a third party, the property thus acquired shall be owned by the state or returned to the collective, Three people.

Creditor debtor obligation transfer

Where the debtor transfers all or part of the contract's obligations to a third party, the creditor's consent shall be obtained. Where laws and administrative regulations stipulate that transfer of rights or transfer of obligations shall be subject to approval, registration and other formalities, such provisions shall be followed. With the consent of the other party, one party may transfer its rights and obligations in the contract to a third party.

Creditor debtor majority debtor

The majority of debtors is a "majority of creditors" symmetry, which refers to two or more of the debts of the majority of the debtor's burden to the creditor as a certain behavior or not a certain behavior obligation. It can be divided into a majority debtor for joint debt and a majority debtor for joint debt.

The majority of debtors who share a debt share their obligations according to a certain share. Each debtor is only responsible for fulfilling its debts to the creditor with respect to its share of the debt, and matters that have effect on one debtor do not affect other debtors.

Most debtors of joint debts share their obligations and have a joint relationship with each other. Before the debts are fulfilled, the debt share assumed by each debtor is uncertain, and matters that are effective for one debtor are also valid for other debtors.