- citati u SCIndeksu: [1]
- citati u CrossRef-u:[1]
- citati u Google Scholaru:[
 ]
- posete u poslednjih 30 dana:34
- preuzimanja u poslednjih 30 dana:24
|
|
|
2021, vol. 7, br. 3, str. 7-36
|
|
Forfeting kao savremeni oblik finansiranja preduzeća
Forfeting as a modern form of financing a company
Sažetak
Tehnika forfetinga obuhvata otkup nedospelih dugoročnih spoljnotrgovinskih potraživanja koja ispunjavaju određene uslove u pogledu ročnosti, vrste i dospeća. Na taj način preduzeće ima mogućnost da proda poslovnoj banci ili nekom drugom specijalizovanom finansijskom telu za forfeting svoje spoljnotrgovinsko potraživanje koje nije opterećeno mogućnošću regresnih zahteva drugih lica prema kupcu potraživanja, a koje je obezbeđeno nekim od ugovornih sredstava obezbeđenja. Forfeting transakcijom preduzeće eliminiše moguće gubitke zbog nelikvidnosti, rizike rasta kamatnih stopa u budućnosti, rizike po osnovu fluktuirajućih deviznih kurseva, rizik po osnovu promene boniteta i finansijske pozicije dužnika, eliminiše administrativne probleme i prateće troškove oko naplate potraživanja. Ovaj rad ima za cilj da ukaže na postupak primene tehnike forfetinga i mehanizme eskontne stope u zavisnosti od rizika, perioda otplate, valute i iznosa same transakcije.
Abstract
Forfeiting technique includes the purchase of outstanding long-term foreign trade receivables that meet certain conditions in terms of maturity and type. In that way, the company has the opportunity to sell to a commercial bank or some other specialized financial body for forfeiting its foreign trade claim, which is not burdened by the possibility of recourse claims of other persons against the buyer of the claim, which is provided by some collateral. Through the forfeiting transaction, the company eliminates possible losses due to illiquidity, risks of rising interest rates in the future, risks based on fluctuating exchange rates, risk based on changes in creditworthiness and financial position of debtors, eliminates administrative problems and associated costs of debt collection. This paper aims to point out the process of applying the forfeiting technique and the discount rate mechanisms depending on the risk, repayment period, currency and the amount of the transaction itself.
|
|
|
|
Reference
|
|
|
Bishop, E. (2004) Finance of international trade. London: Elsevier
|
|
|
Chauffour, J., Farole, T. (2009) Trade Finance in Crisis: Market Adjustment or Market Failure?. World Bank Policy Research Working Paper, 5003
|
|
|
Guild, I., Harris, R. (1986) Forfaiting: An alternative approach to export trade finance. New York: Universe Books
|
|
|
Ivaniš, M., Vapa-Tankosić, J. (2020) Factoring as an important instrument of corporate finance. u: Karabašević D.; i dr. [ur.] International Thematic Monograph 'Innovation as a driver of development, Belgrade: University Business Academy in Novi Sad, Faculty of Applied Management, Economics and Finance in Belgrade, 166-181, ISBN 978-86-84531-50-8
|
|
|
Jovičić, M., Vujić, S. (2012) Kvantitativni aspekti ekonomije i biznisa. Travnik: Sveučilište/Univerzitet Vitez
|
|
1
|
Kapor, P. (2005) Bankarstvo. Beograd: Megatrend univerzitet primenjenih nauka
|
|
|
Kovačević, V., Vapa-Tankosić, J. (2017) Exploratory analysis on internal risks in SMEs and financial institutions in Serbia. u: Bacher U.; i dr. [ur.] Interdisciplinary Management Research XIII, Opatija: Josip Juraj Strossmayer University of Osijek, Faculty of Economics in Osijek, 718-732, ISSN 1847-0408
|
|
|
Kyrmizoglou, P.F. (2016) Investigating the reasons of Greece's underperforming in forfaiting. Central European review of economics & finance, 11(1): 103-107
|
|
|
Ludwig, E.A., Coursey, M.J. (1986) The Export Trade Note: A New Instrument for International Trade. Georgia Journal of International and Comparative Law, 16(3): 381-433
|
|
|
Lütschg-Emmenegger, M. (1998) Guide to Forfaiting. London: Euromoney Institutional Investor PLC
|
|
|
Madura, J. (2008) International corporate finance. Mason, OH: Thomson/South-Western
|
|
|
Mckibbin, P., Pistrui, D. (1997) East Meets West: Innovative Forms of Foreign Trade Finance Between Italian Family Enterprises and Emerging SMEs in Romania. Family Business Review, 10(3): 263-280
|
|
|
Miljković, Lj., Miljković, A. (2011) Forfaiting -Cash Made From Loan. International Journal of economics and law, 2(3): 105-109
|
|
|
Mladenović, O. (2010) Forfetiranje kao jedan od oblika finansiranja izvoza. Bankarstvo, vol. 39, br. 3-4, str. 124-147
|
|
|
Ožegović, L., Ivaniš, M., Pavlović, N. (2016) Entrepreneurial development goals of power business in Serbia. u: Barković D.; i dr. [ur.] Interdisciplinary management research XII, Opatija: Josip Juraj Strossmayer University of Osijek, Faculty of Economics in Osijek, 274-284, ISSN 1847-0408
|
|
|
Rongrong, Z. (2020) Trade credit, cash holdings, and product market competition. Quarterly Review of Economics and Finance, 78: 132-146
|
|
|
Sedliačiková, M., Volčko, I., Jelačić, D. (2014) Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry. Drvna industrija, 65(1): 51-57
|
|
|
Surendranath, R.J., Hinh, D., Thanh, N.N., Hieu, V.P. (2020) The influence of economic policy uncertainty on corporate trade credit and firm value. Journal of Corporate Finance, 64 : 101671
|
|
3
|
Šogorov, S. (2004) Bankarsko pravo. Novi Sad: Poslovni biro SB
|
|
2
|
Vapa-Tankosić, J., Redžepagić, S., Stojsavljević, M. (2013) Trade, Regional Integration and Economic Growth: MEDA Region and the Western Balkan Countries. u: Sabri M.; Shahin N.; Wassim S. [ur.] Financial Integration: A Focus on the Mediterranean Region Series: Financial and Monetary Policy Studies, Berlin-Heidelberg: Springer, 36: 215-229, ISBN: 978-3-642-35696-4
|
|
|
Velentzas, J., Kartalis, N., Broni, G. (2013) The Factoring and Forfaiting Contract as Contemporary Types of Finance. Especially the Greek Regulations. Procedia Economics and Finance, 5: 757-762
|
|
1
|
Vukša, S., Pantić, N. (2020) Profit i profitna stopa. Akcionarstvo, 26(1): 7-25
|
|
|
Willsher, R. (1995) Forfaiting. u: Export Finance. Finance and Capital Markets, London: Palgrave Macmillan, 42-65
|
|
7
|
Živković, A. (2019) Kvalitet upravljanja operativnim rizicima u finansijskim institucijama. Akcionarstvo, 25(1): 5-32
|
|
|
|
|