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◊Who
can benefit from the factoring transactions?
It is a financing technique which the companies which make domestic and
foreign term sales can utilize.
◊What
kind of financing resource could be created by means of the factoring
transaction?
When you convey your receivables arising from the term sales to our
company, you are paid a certain percent of the amount.
◊What
is the cost of the Factoring transactions?
There are two types of costs according to the nature of the transaction
in factoring transactions. First of them is the commission and expenses
to be paid because of intermediation for the collection of the
receivable and/or the collection guarantee furnished. The second one is
the interest paid in case of prepayment.
◊What
are the differences between Factoring and Bank Credits?
While the bank credits take part among the financial payables item, the
factoring payables take part among the sellers item. In case the
factoring transaction made is irrevocable, it could be taken out of the
balance sheet completely. This event gives rise to some positive results
in the liquidity ratios in the balance sheets of companies.
◊It
is possible to transfer our Open Account sales to the factoring
companies?
In the transactions with the open account operation, it is possible for
the creditor company to transfer its receivables to the factoring
company by means of the factoring contract and the conveyance contract.
◊Is
there any term limitation of the receivables to be conveyed in the
factoring transactions?
In general, the receivables between 30 days and 120 days are conveyed.
◊Which
receivables could not be conveyed?
The sales relating to the buyers with the prohibition of conveyance, if
the mutual trade is in question with the debtor company and in the
transactions in which there is a shareholding connection with the
company to which sale is made, the conveyance transaction could not be
performed.
◊It
is possible to use factoring in case of lack of any financing need?
It is possible to benefit from the collection or guarantee functions. It
does not require benefiting from the financing function definitely.
◊How
and up to which rates the prepayment is made in factoring transactions?
The prepayment is made by the factor on the receivables conveyed and up
to eighty percent of the receivable.
◊What
are revocable and irrevocable factorings?
It is not possible to recourse the customer in the irrevocable factoring
transaction. In other words, the risk of collection is undertaken by the
factor. The case of sending the faulty goods is an exception. In the
revocable factoring transactions, the risk of non-payment of the
receivable is not undertaken by factor organization, and the prepayments
which are made concerning this receivable recourse to the customer in
case of non-payment of the debt.
◊How
is the legal prosecution transaction performed when a receivable which
is subject to Factoring is not paid by its debtor?
This matter is determined in advance between the customer and the
factor. The prosecution could be performed by the customer, or could be
performed by the factor organization as the expenses will belong to the
customer.
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