Business · French law
Dailly or factoring in France: compare the contracts
Dailly assignment and factoring can finance qualifying professional receivables under different mechanisms and service terms. The assignment instrument, debtor notice, guarantees and recourse are separate issues. Costs must come from actual contracts and quotations, not an assumed universal rate. Compare the same receivable and period, separating final charges from money held in reserve. The arithmetic alone does not choose a financing product.
Informational guide. An independent qualified legal review has not been completed.
What you leave withA comparison of commitments and stated costs without a fictitious standard rate.
Start with the practical sectionJulie by AlphaDeep
Are future receivables always excluded from Dailly?
No. The text permits receivables arising from an existing or future act within its conditions. Being future does not remove nature and identification checks.
Read the referencesComparing Dailly assignment and factoring? We can separate assignment, retained risk and stated costs on a common basis.
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What transaction does each contract perform?
Dailly assignment transfers or pledges professional receivables under the statutory bordereau framework. Factoring combines contractual services and commitments: funding, administration and risk assumption cannot be presumed identical.
Compare the actual proposed operation, then covered invoices and risks. A product name does not replace the contract.
| Point | Dailly | Factoring |
|---|---|---|
| Support | Relevant bordereau and statutory regime | Agreement and admitted invoices |
| Non-payment risk | Read the signatory guarantee unless otherwise agreed | Check actual risk coverage |
| Cost and cash flow | Agreed terms | Separate fees, financing and reserves |
References : Code monétaire et financier · L313-23 · Service Public · affacturage
Which receivables and financial beneficiaries qualify?
Article L313-23 defines qualifying professional receivables and beneficiary classes. The regime does not cover any debt transferred to any third party.
A future receivable is not excluded merely because it is not yet due or evidenced in the same way. Its origin, nature and identification must satisfy the statutory framework.
References : Code monétaire et financier · L313-23
What should be checked in the instrument and its date?
The bordereau needs prescribed entries identifying the transaction, beneficiary and receivables. The transferor’s signature and date applied by the transferee have distinct roles.
Compare the complete document, annexes and delivery. An email or invoice date does not automatically replace the date producing the bordereau’s effects.
References : Code monétaire et financier · L313-23 · Code monétaire et financier · L313-25 · Code monétaire et financier · L313-27
Why do debtor notice and formal acceptance differ?
Within the statutory framework, a prohibition-to-pay notification requires the debtor to discharge payment to the beneficiary. Distinguish it from the formal acceptance instrument under Article L313-29.
Acknowledging receipt establishes receipt, not necessarily the legal commitment attached to acceptance. Identify the signed document and contents before classifying its effects.
References : Code monétaire et financier · L313-28 · Code monétaire et financier · L313-29
Who retains which non-payment risks?
Unless otherwise agreed, the bordereau signatory guarantees payment jointly and severally. Dailly therefore does not automatically mean financing without recourse to the business.
For factoring, examine approved invoices, exclusions and risk actually assumed. Collection services or cash advances alone do not establish a guarantee of every invoice.
References : Code monétaire et financier · L313-24 · Service Public · affacturage
How can quoted charges be compared on the same basis?
Compare the same receivable, period and service basis. The worksheet adds stated interest and fees while displaying reserves separately.
It calculates no effective annual rate and recommends no financing. An unknown cost should not be filled with zero to complete a comparison.
References : Code monétaire et financier · L313-24 · Service Public · affacturage
Does a larger reserve necessarily mean a higher final cost?
A reserve may temporarily retain cash without being permanently lost cost. Read its release, allocation and coverage terms.
In the fictional case, €550 and €650 listed costs remain separate from €1,000 and €1,500 reserves. The explicit-cost difference alone does not choose between contracts.
Two fictional quotes for the same receivable and period: A lists €350 interest,€200 fees and a €1,000 reserve; B lists €300,€350 and €1,500. Explicit charges are €550 and €650; reserves stay separate, and no product is recommended.
References : Code monétaire et financier · L313-24 · Service Public · affacturage
Which documents should be reviewed before committing?
A useful comparison file connects commitments with actual fund availability. Keep recourse and insurance questions beside the figures rather than in a forgotten footnote.
- Agreement, bordereau and covered receivables.
- Signature, delivery date and notifications.
- Any formal acceptance and retained guarantees.
- Fee quotations, reserves, release conditions and exclusions.
References : Code monétaire et financier · L313-23 · Code monétaire et financier · L313-24 · Code monétaire et financier · L313-25 · Code monétaire et financier · L313-27 · Code monétaire et financier · L313-28 · Code monétaire et financier · L313-29 · Service Public · affacturage
What else should you check?
Are future receivables always excluded from Dailly?
No. The text permits receivables arising from an existing or future act within its conditions. Being future does not remove nature and identification checks.
References : Code monétaire et financier · L313-23
Does signing the instrument remove all recourse?
No. Unless otherwise agreed, the signatory guarantees payment jointly and severally. Read the terms rather than inferring non-recourse finance from Dailly’s name.
References : Code monétaire et financier · L313-24
Is acknowledging receipt formal debtor acceptance?
No. Receipt of notification and formal acceptance under Article L313-29 differ. The document and contents explain the commitment.
References : Code monétaire et financier · L313-28 · Code monétaire et financier · L313-29
Is a guarantee reserve always a final charge?
No. Separate reserves from definitively charged fees. Release and allocation conditions determine their actual cash-flow effect.
References : Service Public · affacturage
Does factoring insure every invoice submitted?
No. Coverage depends on the contract, admitted invoices and exclusions. An invoice entrusted for administration is not automatically guaranteed.
References : Service Public · affacturage
Which sources support this page?
Official texts remain in French. The explanations above describe French law. A source check records a reading date; it is not qualified legal review.
- Code monétaire et financier · L313-23Source checked : · Version from 2025-03-14
- Code monétaire et financier · L313-24Source checked : · Version from 2001-01-01
- Code monétaire et financier · L313-25Source checked : · Version from 2001-01-01
- Code monétaire et financier · L313-27Source checked : · Version from 2018-01-03
- Code monétaire et financier · L313-28Source checked : · Version from 2018-01-03
- Code monétaire et financier · L313-29Source checked : · Version from 2018-01-03
- Service Public · cession DaillySource checked :
- Service Public · cession Dailly (version anglaise)Source checked :
- Service Public · affacturageSource checked :