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March 2015 (published: 16.03.2015)
Number 1(20)
Home > Issue > Development of factoring and forfeiting operations to improve the efficiency of the economy and business in Russia
Vitsko E.A.
The research of application of factoring and forfeiting operations in Russia and abroad is conducted in this article. The experience in the use of factoring and forfeiting in the domestic and foreign economy showed that the application of factoring and forfeiting in the internal and external trade is relevant today, as these operations are provided by the acceleration of the movement of working capital enterprises, which contributes to improvement of their financial condition. At the same time directly from the light of contemporary realities - the globalization of markets, consolidation of production, these operations contribute to the development and strengthening of relationships between entities. The conducted analysis of the legal framework has demonstrated that the content of the studied types of calculations is not indicated clearly enough, so it is necessary to justify their content for the efficient use of these types in the economy and business activities. The author of the article points out that factoring is a financial service rather than one-off transaction, which requires a clearer legislative and economic framework for the implementation of those operations and management the risks, associated with them. Credit institutions must have sufficient cash resources that would allow to implement factoring and forfeiting operations. Investigation of the mechanism of using forfeiting in Russia revealed the lack of development of forfeiting services. It was concluded that the Russian financial lending institutions are not ready to take on the investment risks associated with those operations. However, assignment of the claim gives trade relations more stable position in countries with the developed market economy. In addition, regularities and specific features of factoring and forfeiting markets were revealed and the reasons hindering their use in economics and economic practice were provided in this article. Tags: factoring, forfeiting assignment of the claim of monetary funds, bill of exchange, commercial credit, export operations
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Keywords: factoring, forfeiting, non-recourse financing, commercial credit, bill.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 336.717
Development of factoring and forfeiting operations to improve the efficiency of the economy and business in Russia
The research of application of factoring and forfeiting operations in Russia and abroad is conducted in this article. The experience in the use of factoring and forfeiting in the domestic and foreign economy showed that the application of factoring and forfeiting in the internal and external trade is relevant today, as these operations are provided by the acceleration of the movement of working capital enterprises, which contributes to improvement of their financial condition. At the same time directly from the light of contemporary realities - the globalization of markets, consolidation of production, these operations contribute to the development and strengthening of relationships between entities. The conducted analysis of the legal framework has demonstrated that the content of the studied types of calculations is not indicated clearly enough, so it is necessary to justify their content for the efficient use of these types in the economy and business activities. The author of the article points out that factoring is a financial service rather than one-off transaction, which requires a clearer legislative and economic framework for the implementation of those operations and management the risks, associated with them. Credit institutions must have sufficient cash resources that would allow to implement factoring and forfeiting operations. Investigation of the mechanism of using forfeiting in Russia revealed the lack of development of forfeiting services. It was concluded that the Russian financial lending institutions are not ready to take on the investment risks associated with those operations. However, assignment of the claim gives trade relations more stable position in countries with the developed market economy. In addition, regularities and specific features of factoring and forfeiting markets were revealed and the reasons hindering their use in economics and economic practice were provided in this article. Tags: factoring, forfeiting assignment of the claim of monetary funds, bill of exchange, commercial credit, export operations
Read the full article
Keywords: factoring, forfeiting, non-recourse financing, commercial credit, bill.