The Factoring and Forfaiting Contract as Contemporary Types of Finance. Especially the Greek Regulations

The contract of factoring is accomplished between one party whose main activity is to be the supplier of goods and another party who is a factor. Factoring offers the seller a number of services: it makes available to him immediate liquidation of his business claims and effective management and satisfaction. The law has no requirements as regards minimum duration of the factoring contract. As a result, it may be approved that the extent is fixed or unclear. The forfaiting contract, which is a way of financing exports, is a trilateral contract too.