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Will PICC come to collect money
Legal basis: Civil Code of People's Republic of China (PRC).
Article 766 Where the parties agree on factoring with recourse, the factor may claim repayment of the principal and interest of factoring financing or repurchase the creditor's rights of accounts receivable from the debtor of accounts receivable. Where the factor claims the creditor's rights of accounts receivable from the debtor of accounts receivable, if there is surplus after deducting the principal and interest of factoring financing funds and related expenses, it shall return the surplus to the creditor of accounts receivable.
Article 767 Where the parties agree on factoring without recourse, the factor shall claim the creditor's rights of accounts receivable from the debtor of accounts receivable, and the factor need not return the part exceeding the principal and interest of factoring financing and related expenses.
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