Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry

To provide environmentally sustainable development of a wood processing enterprise, it is necessary to implement environmentally sustainable products. The study focuses on identifying the factors of consumer perception of environmentally sustainable wood processing products and recommends how to ensure such product development. The main objective of the research was to survey the perception of environmentally sustainable wood processing products by consumers and to identify the factors that consumers take into account when making purchasing decisions. The survey was conducted by the method of questionnaire, addressing 754 adult inhabitants of Slovakia. The results revealed that the most frequently indicated reason for purchasing environmentally sustainable wood processing products was that they had a positive impact on health. The most commonly identified reason why consumers do not buy these products was their high price. The survey results should help understand the needs of consumers with regard to the environmental aspects of wood processing products, and thus ensure better satisfaction of their environmental needs.

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Consumer perception of environmentally sustainable products of Slovak wood processing enterprises

Malá

Sedliačiková

Drábek

et al. 2019

Drv. ind. (Online)

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Forfeting as a modern form of financing a company

Vapa-Tankosić¹,

Ivaniš²,

Vukosavljević³

2021

Oditor

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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.

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Factoring and Forfeiting in Slovakia and Possibilities of its Application in Wood-Working Industry

Abstract: • Factoring is the contract negotiated continuous purchase of short-term debts, incurred by supplier due to the provision of unsecured credit supply. Factoring is a method of financing that can offer a lot to businesses

Cited by 2 publications

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Consumer perception of environmentally sustainable products of Slovak wood processing enterprises

Consumer perception of environmentally sustainable products of Slovak wood processing enterprises

Forfeting as a modern form of financing a company

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