SUMMARY
In light of the fact that capital is a major factor in production, the development of entrepreneurial activity becomes impossible without considering the financial market and the resources provided to its subjects. Regardless of the degree of development, any entrepreneurial activity is engaged in direct contact with financial markets, in particular through institutions that act as intermediaries in raising money and services. The development of a solid basis for doing business requires understanding the rules of functioning of the financial system and its mechanisms. Considering the current economic situation, as well as the procedure for granting loans by banks, which is gradually becoming more complicated, while the national and international markets require capital movement, factoring becomes the most accessible instrument and only source of financing, with which the latter increases concurrently with sales. Therefore, the aim of this article is to study the legal nature of the factoring contract in Romania: to identify its regulation object, functions, types, legal features, and other specificities to introduce the positive experience of foreign colleagues to the legislation of Ukraine. Methodology. It is proved that the current legislation concerning the issue of factoring in Ukraine should be improved because in our country the factoring market is still not very common in spite of its rapid development in the world. Moreover, there are no thorough studies on factoring in general and a factoring agreement in particular; some issues on this topic have been considered only in scientific articles. Therefore, the authors refer to the legislation of Romania to determine those features of legal regulation, which have contributed to the rapid and effective development of this institution in this country, and to make appropriate proposals for improving domestic legislation with the use of positive foreign experience. Results. The article suggests a general description of the factoring contract in Romania: the concept of this agreement is revealed; the object of its regulation, as well as implementation of the factoring contract, is determined; its functions and features are described; the parties to the agreement and their legal status are determined. The specificities that have contributed to the rapid enlargement of factoring in Romania are given particular consideration. Practical implication. The factoring agreement as an operating instrument for credit institutions is especially important due to its constant practical applicability that enables to choose the optimal commercial activity both at the national and international levels. Relevance/originality. In Ukraine, given the need for further development of entrepreneurial activity, the issue of increasing total factoring operations is important. The implementation of positive international experience on this issue in domestic legislation is essential for this stage.