Section 11
Rights and obligations of parties to contract for assignment of receivables.
The Factoring Regulation Act, 2011
About this Act
An Act to provide for and regulate assignment of receivables by making provision for registration there for and rights and obligations of parties to contract for assignment of receivables and for matters connected therewith or incidental thereto.
Without
prejudice to the provisions contained in any other law for the time being in force, the debtor shall have the
right to notice of assignment under section 8 before any demand is made on it by the assignee and until
notice is served on the debtor, the debtor shall be entitled to make payments to the assignor in respect of
assigned receivables in accordance with the original contract and such payment shall fully discharge the
debtor from corresponding liability under the original contract.
Explanation.—For the removal of doubts, it is hereby clarified that nothing contained in this section shall affect the rights of debtor to make payment to the assignee under section 9.
Explanation.—For the removal of doubts, it is hereby clarified that nothing contained in this section shall affect the rights of debtor to make payment to the assignee under section 9.