FACTORING AND FORFAITING AS FORMS OF INTERNATIONAL BUSINESS FUNDING

Zaradi zapletenosti poslovanja na tujih trgih in zaradi tveganj, ki se pojavljajo v mednarodni menjavi, so se razvili finančni instrumenti, ki podjetjem olajšajo nastop na tujih trgih. V diplomskem delu obravnavamo financiranje mednarodne trgovine s faktoringom in forfaitingom. Izvozniki se pri izvozu blaga ali storitev srečujejo z različnimi zahtevami uvoznikov, ki pa jih zaradi obravnavanih dveh instrumentov financiranja lažje obvladujejo in tako povečujejo svojo konkurenčnost. V teoretičnem delu diplomskega dela opisujemo splošne značilnosti faktoringa in forfaitinga kot instrumentov financiranja mednarodnih poslov, njune prednosti in slabosti, vrste faktoringa v mednarodni menjavi, tveganja, ki jih lahko obvladujemo z njuno uporabo, ter stroške obeh instrumentov. Zaradi redkih poslov forfaitinga v empiričnem delu obravnavamo le faktoring kot obliko financiranja mednarodne menjave. Ugotavljamo povezavo med višino mednarodne menjave in višino mednarodnega faktoringa za članice EU. V nadaljevanju empirične analize ugotavljamo povezavo med BDP in deležem faktoringa v mednarodni menjavi. Primerjamo tudi stroške financiranja s faktoringom v primerjavi z bančnim kreditom in predstavljamo pogodbo o faktoringu ter njene značilnosti.Due to the complexity of business in foreign markets and due to the risks that arise in international trade, financial instruments that facilitate the performance of businesses in foreign markets were developed. In this thesis we discuss the financing of international trade with factoring and forfaiting. In the process of exports of goods and services exporters meet with various requirements of importers, however, due to the discussed two instruments of funding they manage them easier and thus, enhance their competitiveness. In the theoretical part of the thesis, we describe the general characteristics of factoring and forfaiting as instruments of financing international transactions, their advantages and disadvantages, types of factoring in international trade, risks that can be managed by their use, adn the costs of both instruments. Due to the scarce forfaiting transactions, the empirical part deals only with factoring as a form of financing international trade. We establish a link between the amount of international trade and the level of international factoring for the EU. In the continuation of empirical analysis we investigate the link between the GDP and the share of factoring in international trade. We compare the cost of financing through factoring with a bank credit and present contract on factoring and its features