With the orientation of our country to a market economy in theory and practice of financial and trade relations have entered a number of new terms and concepts. Spoke to the franchise, factoring, futures, swaps and more. In the global financial practice, they are known in advance and are widely used but still in our first steps.
Factoring t.24 as defined in § 1 of the Supplementary Provisions of the CITA is a transaction whereby one party (factor) purchases under a contract assignment for single or periodic monetary claims arising from the supply of goods or services as running the risk of collecting such claims against payment of remuneration.
Factoring transactions are subject to the activity of both banks and non-banking financial institutions.
Factoring Treaty is a bilateral transaction, consideration and long and contains elements of the leasing contract and a service. Relations in Factoring transaction involving three parties:
undertaking that sells goods or services with deferred payment;
company purchaser of goods or services, which is paying the transaction with the enterprise sales;
factor - the person (banks, non-banks, company) that acts as an agent undertakes to recover from the buyer and paying it to the seller.
Assignment is formed under chl.99 of OCA with leasing.
