Author
Uyanık, Ragıp Yüce
Publication Date
2019-04
Subject
Assignment, International factoring, Export factoring, General rules for international factoring, Without recourse factoring, Recourse factoring
Type
Document
Language
Turkish
Digital
Yes
Manuscript
No
Library
Özyeğin University
Record ID
4d7215c7-2bd6-4712-94d2-bd63adc54042
Library Location
Department of Private Law
Date
2019-04
Sample Text
Factoring is one of the new financial instruments we were introduced to with the opening of the Turkish economy to the outside world after the decisions of January 24, 1980. Factoring, which has been used in various forms around the world for a long time, was first applied in international transactions, especially export transactions, in Turkey, and was later adapted to Türkiye's conditions and reached its current use in domestic transactions. Therefore, knowing the international application of factoring is of great importance in understanding factoring. The factoring institution has been constantly evolving with its functions for more than fifty years. However, despite this, it remained slow in terms of recognition. When examined carefully, it can be seen that factoring has significant effects on increasing sales, profitability and country exports. Due to the rapid development of international factoring, differences can be observed in the application methods and legal evaluations in Turkey. In this study, the international factoring contract signed between the seller and the factor is evaluated and answers are sought to some issues that have become controversial due to different interpretations of the Turkish practice in terms of the world practice of international factoring and international rules., Factoring is one of the financial instruments that we have learned after the opening of Turkish economy by 24th January 1980 decisions. Factoring has an old history and has been exercised in Turkey first in international, especially export transactions. Later it has been modified to fit Turkish market conditions and has got its existing shape in domestic transactions. Therefore, knowing the international practice of factoring is very important to better understand it. Factoring has been developed to contain multiple functions for the last 50 years and has been still improving. However, its recognition is slower. The better it is understood, the better its direct effect in increasing sales, profitability and exports of a country will be seen. Due to the rapid development of this service, the practice and the legal understanding of international factoring may sometimes be different. This work evaluates international factoring contract by its definition, structure, content and legal understanding from different points of view and examiners in more details the gray areas due to false interpretations or missing information are put forward and are tried to be clarified in accordance with the actual international exercise and rules.
