From the contractual law prospective, the factoring has been widely known but yet undefined area of activities for the Ukrainian business entities whereas current crisis makes it institutionalize swiftly. Generally, everyone was engaged in assignments and assumptions of the contracts, this one activity pre-dates the current codification of business and civil contracts effective as of 2004. 2001 Financial Services and State Regulation of the Financial Services Markets (SCRFS) that earlier defined the factoring as a financial service that must be provided primarily by the financial institutions. More importantly, the Civil Code defined that factor can only be a financial institution.