FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE

As a result of the rapid developments in science and technology in the 20th century and the rapid progress in the 21st century, the impact of globalization on the countries is increasing. In today's world, where international competition is increasing, world countries are rapidly moving towards...

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Autores principales:	Şükrü SÜRÜCÜ, Haldun SOYDAL, Hakan ACET
Formato:	article
Lenguaje:	DE EN FR TR
Publicado:	Fırat University 2020
Materias:	factoring forfaiting modern financing techniques external trade Social Sciences H Social sciences (General) H1-99
Acceso en línea:	https://doaj.org/article/abfee33dd96245b0ad8d43d1890b6926
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spelling	oai:doaj.org-article:abfee33dd96245b0ad8d43d1890b69262021-11-24T09:20:36ZFACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE2148-416310.29228/JASSS.39935https://doaj.org/article/abfee33dd96245b0ad8d43d1890b69262020-05-01T00:00:00Zhttps://jasstudies.com/index.jsp?mod=tammetin&makaleadi=51910f72-e047-4e79-9e70-01437f7d15da.pdf&key=39935https://doaj.org/toc/2148-4163As a result of the rapid developments in science and technology in the 20th century and the rapid progress in the 21st century, the impact of globalization on the countries is increasing. In today's world, where international competition is increasing, world countries are rapidly moving towards a single market and it is becoming utopia to think of an autonomous country. Changes in exchange rates and interest rates are a risk for businesses. Against these factors, which are important for the sales activities and growth capacities of the enterprises, the fact that they turn to factoring and forfaiting services, which are modern financing techniques, accelerates. Companies that benefit from factoring and forfaiting services can spend their time on policies such as marketing, management, sales and growth, while they do not have to spend time on risk management. Factoring is a method based on the transfer of receivables of the companies that sell goods or services with credit to factoring company. The fact that the factoring transaction should be absolutely is that there is a term receivable. In factoring transactions, besides the transfer of receivables, services such as financing, services and collateral are also offered. Factoring is a preferable financing technique for small and medium-sized enterprises with poor capital structure, low credibility, and marketing problems. Forfaiting is usually the result of exports. The term of the forfaiting process may extend up to 10 years. The transfer of receivables linked to a certain payment plan to a forfaiter or bank that will collect without the recourse right, at a certain commission and discount cost. Receivables linked to policies and bonds are the receivables that form the subject of the forfaiting process. Increasing the awareness of factoring and forfaiting services, which are modern financing techniques, is important in today's world where international trade and interdependence among countries have increased. In this context, factoring and forfaiting services were examined in thisstudy.Şükrü SÜRÜCÜHaldun SOYDALHakan ACETFırat Universityarticlefactoringforfaitingmodern financing techniquesexternal tradeSocial SciencesHSocial sciences (General)H1-99DEENFRTRJournal of Academic Social Science Studies , Vol 13, Iss 79, Pp 525-544 (2020)
institution	DOAJ
collection	DOAJ
language	DE EN FR TR
topic	factoring forfaiting modern financing techniques external trade Social Sciences H Social sciences (General) H1-99
spellingShingle	factoring forfaiting modern financing techniques external trade Social Sciences H Social sciences (General) H1-99 Şükrü SÜRÜCÜ Haldun SOYDAL Hakan ACET FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE
description	As a result of the rapid developments in science and technology in the 20th century and the rapid progress in the 21st century, the impact of globalization on the countries is increasing. In today's world, where international competition is increasing, world countries are rapidly moving towards a single market and it is becoming utopia to think of an autonomous country. Changes in exchange rates and interest rates are a risk for businesses. Against these factors, which are important for the sales activities and growth capacities of the enterprises, the fact that they turn to factoring and forfaiting services, which are modern financing techniques, accelerates. Companies that benefit from factoring and forfaiting services can spend their time on policies such as marketing, management, sales and growth, while they do not have to spend time on risk management. Factoring is a method based on the transfer of receivables of the companies that sell goods or services with credit to factoring company. The fact that the factoring transaction should be absolutely is that there is a term receivable. In factoring transactions, besides the transfer of receivables, services such as financing, services and collateral are also offered. Factoring is a preferable financing technique for small and medium-sized enterprises with poor capital structure, low credibility, and marketing problems. Forfaiting is usually the result of exports. The term of the forfaiting process may extend up to 10 years. The transfer of receivables linked to a certain payment plan to a forfaiter or bank that will collect without the recourse right, at a certain commission and discount cost. Receivables linked to policies and bonds are the receivables that form the subject of the forfaiting process. Increasing the awareness of factoring and forfaiting services, which are modern financing techniques, is important in today's world where international trade and interdependence among countries have increased. In this context, factoring and forfaiting services were examined in thisstudy.
format	article
author	Şükrü SÜRÜCÜ Haldun SOYDAL Hakan ACET
author_facet	Şükrü SÜRÜCÜ Haldun SOYDAL Hakan ACET
author_sort	Şükrü SÜRÜCÜ
title	FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE
title_short	FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE
title_full	FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE
title_fullStr	FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE
title_full_unstemmed	FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE
title_sort	factoring and forfaiting techniques in external trade finance
publisher	Fırat University
publishDate	2020
url	https://doaj.org/article/abfee33dd96245b0ad8d43d1890b6926
work_keys_str_mv	AT sukrusurucu factoringandforfaitingtechniquesinexternaltradefinance AT haldunsoydal factoringandforfaitingtechniquesinexternaltradefinance AT hakanacet factoringandforfaitingtechniquesinexternaltradefinance
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FACTORING AND FORFAITING TECHNIQUES IN EXTERNAL TRADE FINANCE

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