During the activity many enterprises push together with such problems as:
- insufficient amount of cash;
- growing risks of crediting;
- high debts;
- growth of nonpaying;
- instructions of the foreign clients on purchase of the goods under the open accounts.
To consult with these difficulties it is possible having resorted to for one of the most perspective kinds of bank services most adapted to modern processes of development of economy, which carries the name factoring.
As it was already marked above, one of the most perspective kinds of bank services is factoring - risky, but high paid business, effective instrument of financial marketing, one of the forms of integration of bank operations, which are most adapted to modern processes of economy development.
Factoring- buying collecting of duties, on resale of the goods and services with the subsequent reception of payments on them. Thus the speech goes, as a rule, about the short-term requirements. In other words, factoring is a version of intermediary activity, at which firm – intermediary for the certain payment receives from the enterprise the right to collect and to enlist on its account due to it from the buyers of the sum of money. Simultaneously with it the intermediary finances a working capital of the client and takes up its credit and currency risks.
Subject of concession, under which the financing is given, can be as the money requirement, term of payment on which already has come (existing requirement), and the right on reception of money resources, which will arise in the future (future requirement). The money requirement being a subject of concession, should be determined in the contract of the client with the financial agent thus, which allows to identify the existing requirement at the moment of the conclusion of the contract, and future requirement - not later than at the moment of its occurrence.
Factoring of operation has arisen on the basis of the commercial credit, which gives by the sellers to the buyers as a delay of payment for the sold goods. Change of the requirements for accounts from the point of view of acceleration of a revolution of means has caused necessity for the suppliers to search for ways of the decision of a problem of debts. Factoring is a rather new effective system of improvement and reduction of financial risk at organization of payments. The commercial banks, developing these operations, supplement by their elements of accounting, information, advertising, marketing, legal, insurance and other service of the clients. It allows expanding a circle of the clients of bank, to strengthen communication with them, to increase profit of bank at the expense of expansion of operations.
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