Theoretical principles of the classification of factoring deals

Abstract

The significance of factoring increased enormously in recent years especially as a form of executing international payments. The volume of factoring transactions, however, differs significantly per geographical area. Factoring turnover totalled to 860 billion euros, of which 612 billion was generated in Europe, meaning 71 percent of factoring transactions in the world took place in the old continent. The contribution of Central and Eastern Europe to this turnover, however, was low. Even if we count Russia as part of the region, factoring turnover was below 15 billion euros, with Hungary representing 1.1 billion euro only.