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    ABOUT VAKIF FACTORING
Which adopts the principle of being your "solution partner" with its strong capital structure and dynamic staff, is also a full member of FCI (Factors Chain Intl.) and Financial Institutions Union.

    MONEY MARKETS
12-11-2019
  EURO USD
  Buying 63542 57624
  Sales 63796 57855
 

TYPES OF FACTORING


Domestic Factoring

Domestic factoring is realized by means of the buyer, seller and factoring company within the borders of the same country. Nearly all of the domestic factoring transactions consist of recourse factoring transactions in our country.

Cash in Advance Transaction

  • Interest and commission are determined taking into consideration the average maturity of the receivables with a certain maturity.
  • The interest and commissions are collected firstly and payment is made at the beginning of the transaction.

Spot Transaction

  • Fixed factoring interest and commission apply for the specified maturity.
  • The capital, interest and fees are collected on due date.
  • Collections are reduced from remaining capital.

Variable Interest Transaction

  • Variable factoring interest and commission apply to the specified maturity.
  • Interest cost is determined taking into consideration the market conditions.
  • Collections are reduced from remaining capital.
  • The transaction may be settled at any time the customer may wish.
  • The capital, interest and fees are collected on settlement of the transaction or on due date.

Foreign Factoring

Export Factoring; enables the firms which export against commodities to take advantage of factoring and earn new customers, adapt to the changing competitive conditions, encash long-term receivables with finance service. Not only the possibility to enter new markets without taking a risk is ensured with the guarantee service, but also monitoring and collection of the receivables by the factoring company in the country provides time and revenue savings to the exporter firms. The guarantee consists of guaranteeing of the receivable in the event of insolvency or bankruptcy of the debtor firm within the framework of the provided limits. In order that the guarantee be applicable, first the commodity sent should not be defective, conditions of the sale contract by and between the buyer and the seller should be complied with, and limit allocation conditions should be fulfilled.

FIU and FCI Full Member Copyright © 2015 Vakif Faktoring A.Ş.