Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry

Factoring is the contract negotiated continuous purchase of short-term debts, incurred by supplier due to the provision of unsecured credit supply. Factoring is a method of financing that can offer a lot to businesses, especially with its added value. This method mainly includes protection before cu...

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Autores principales:	Mariana Sedliačiková, Ivan Volčko
Formato:	article
Lenguaje:	EN
Publicado:	University of Zagreb, Faculty of Forestry and Wood Technology 2014
Materias:	factoring Association of Factoring Companies forfeiting receivables purchase of receivables discount Forestry SD1-669.5
Acceso en línea:	https://doaj.org/article/e42a81c530a6404db88007d7021304b5
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spelling	oai:doaj.org-article:e42a81c530a6404db88007d7021304b52021-12-02T06:12:58ZFactoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry10.5552/drind.2014.13040012-67721847-1153https://doaj.org/article/e42a81c530a6404db88007d7021304b52014-04-01T00:00:00Zhttp://hrcak.srce.hr/file/175793https://doaj.org/toc/0012-6772https://doaj.org/toc/1847-1153Factoring is the contract negotiated continuous purchase of short-term debts, incurred by supplier due to the provision of unsecured credit supply. Factoring is a method of financing that can offer a lot to businesses, especially with its added value. This method mainly includes protection before customers’ insolvency, management of receivables, as well as the opportunity to dispose with the funds before the end of the maturity of receivables. Forfeiting is the purchase of export receivables on credit at the time of delivery. It is related to receivables with the future maturity denominated in freely convertible currency, and secured with a bank aval bill, letter of credit with deferred payment or a bank guarantee. The conditions, under which each company provides forfeiting, depend essentially on the creditworthiness of the applicant and customer, as well as creditworthiness of the bank that issued the payment instrument. The aim of the present paper is to analyze the factoring and forfeiting market in Slovakia and based on the analysis of this issue to propose and verify theoretical and practical possibilities of factoring and forfeiting financing in the selected wood-working company with the estimation of costs associated with their use.Mariana SedliačikováIvan VolčkoIvan VolčkoUniversity of Zagreb, Faculty of Forestry and Wood TechnologyarticlefactoringAssociation of Factoring Companiesforfeitingreceivablespurchase of receivablesdiscountForestrySD1-669.5ENDrvna Industrija, Vol 65, Iss 1, Pp 51-57 (2014)
institution	DOAJ
collection	DOAJ
language	EN
topic	factoring Association of Factoring Companies forfeiting receivables purchase of receivables discount Forestry SD1-669.5
spellingShingle	factoring Association of Factoring Companies forfeiting receivables purchase of receivables discount Forestry SD1-669.5 Mariana Sedliačiková Ivan Volčko Ivan Volčko Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry
description	Factoring is the contract negotiated continuous purchase of short-term debts, incurred by supplier due to the provision of unsecured credit supply. Factoring is a method of financing that can offer a lot to businesses, especially with its added value. This method mainly includes protection before customers’ insolvency, management of receivables, as well as the opportunity to dispose with the funds before the end of the maturity of receivables. Forfeiting is the purchase of export receivables on credit at the time of delivery. It is related to receivables with the future maturity denominated in freely convertible currency, and secured with a bank aval bill, letter of credit with deferred payment or a bank guarantee. The conditions, under which each company provides forfeiting, depend essentially on the creditworthiness of the applicant and customer, as well as creditworthiness of the bank that issued the payment instrument. The aim of the present paper is to analyze the factoring and forfeiting market in Slovakia and based on the analysis of this issue to propose and verify theoretical and practical possibilities of factoring and forfeiting financing in the selected wood-working company with the estimation of costs associated with their use.
format	article
author	Mariana Sedliačiková Ivan Volčko Ivan Volčko
author_facet	Mariana Sedliačiková Ivan Volčko Ivan Volčko
author_sort	Mariana Sedliačiková
title	Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry
title_short	Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry
title_full	Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry
title_fullStr	Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry
title_full_unstemmed	Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry
title_sort	factoring and forfeiting in slovakia and possibilities of its application in wood-working industry
publisher	University of Zagreb, Faculty of Forestry and Wood Technology
publishDate	2014
url	https://doaj.org/article/e42a81c530a6404db88007d7021304b5
work_keys_str_mv	AT marianasedliacikova factoringandforfeitinginslovakiaandpossibilitiesofitsapplicationinwoodworkingindustry AT ivanvolcko factoringandforfeitinginslovakiaandpossibilitiesofitsapplicationinwoodworkingindustry AT ivanvolcko factoringandforfeitinginslovakiaandpossibilitiesofitsapplicationinwoodworkingindustry
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Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry

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