FAKTORING U BOSNI I HERCEGOVINI/FACTORING IN BOSNIA AND HERZEGOVINA

Abstract

Factoring today is a significant way of financing, both large corporations and small and medium enterprises, which is based on the purchase of receivables from the seller on the basis of goods sold to the buyer. Factoring is a business whose essence is the payment to the client of his receivables from third parties, collection of these receivables from third parties and the performance of other related services in goods and money transactions for a fee. 1 Factoring contract (Factoringvertrag) is a contract by which the client undertakes to assign to the factor (usually a bank) all short-term receivables from the contract for the supply of goods and services, before their maturity (global cession), and the factor undertakes accept the offered jobs for a fee, if it is satisfied by the solvency of the client's debtors, with notification (notification) or without notifying the debtor of the transfer, and the risk of collection of receivables is borne by either the client or the factor. The term factor comes from the Latin verb facio (to do), so a factor is "one who does", that is, it is a subject who does some work for others. The definition of factoring agreements in different countries depends on the legal concept, business culture, commercial and financial needs of a particular market and the like. How factoring will be conceptually determined depends on how and from which angle this legal business is viewed: whether primarily from an economic point of view, or whether its contractual (legal) characteristics are primarily analyzed.