SECTION 2 — The following definitions

shall apply in this law and its instru- ments of implementation: - adherent: enterprise which assigns its short term trade receivables to a factor for payment at an agreed date; - factoring: a transaction whereby an adherent, through a fixed term written subrogation agreement, assigns its receivables to a factor who, against a consideration, advances all or part of the amount of the receivables assigned, whether or not bearing the risk of insol- vency of the receivables assigned, depending on the agreement between the parties; - factoring with recourse: factoring agreement whereby the factor is entit- led to reimbursement by the adherent in the event of debtor insolvency;REPUBLIC OF CAMEROON 15th May 2014 Law No. 2014/6 du 23 April 2014 governing factoring in Cameroon The Parliament deliberated and adop- ted, the President of the Republic hereby enacts the law set out below: