Refers to the factoring transaction performed between Recipient, Seller and Factor located in the same country. The customers shall receive 3 main services related to guarantee, collection or financing procedures for all receivables arising from product and service sales. The stated services are summarized as follows.
Financing: Refers to the advance payment remitted to the customer (Seller) for a certain part of short-term receivables. This procedure is implemented in two methods:
a) Revocable Factoring: Refers to the factoring transactions in which Factor avoids undertaking the default risk.
b) Irrevocable Factoring: Refers to the factoring transactions in which Factor undertakes the default risk in the scope of relevant provisions in factoring agreement. The disputes arising from the relationship between Debtor (Recipient) and Client (Seller) or for similar reasons are excluded from the guarantee coverage.
Guarantee: Refers to the factoring transactions in which Factor undertakes the default risk by providing guarantee for the relevant receivable amount in case the Recipient suffers financial difficulties.
Collection: Refers to reporting and administration procedures for relevant receivables by implementing follow-up and collection procedures in due time.
Submission of Negotiable Instruments:
You may submit negotiable instruments to our contracted banks. Thus, you would save time by making faster transactions and your accessibility problems would be resolved.