The Economic Nature of Factoring and its Legal Manifestation in the Bulgarian Legislation and the Convention on International Factoring
The Economic Nature of Factoring and its Legal Manifestation in the Bulgarian Legislation and the Convention on International Factoring

Summary/Abstract: The factoring is a sophisticated financial technique and management service designed to facilitate the use of trade credit. This article illustrates the basic factoring services and namely: financing, credit protection, accounting (ledgering) and collection of receivables. It is emphasized, that factoring as a legal phenomenon includes two contracts: a contract for sale of goods or for supply of services between the supplier and its customers (debtors), on the one hand, and a factoring contract between the supplier and the factor, on the other hand.

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