A model category has two weak factorizations, a pair of cofibrations and trivial fibrations and a pair of trivial cofibrations and fibrations. Then the class of weak equivalences is the set W ...consisting of the morphisms that can be decomposed into trivial cofibrations followed by trivial fibrations. One can build a model category out of such two weak factorizations by defining the class of weak equivalences by W as long as it satisfies the two out of three property. In this note we show that given a category with two weak factorizations, if every object is fibrant and cofibrant, W satisfies the two out of three property if and only if W is closed under the homotopies.
CONTRACTUL DE FACTORING Magdo, Monna-Lisa Belu
Dreptul (București),
01/2022
3
Journal Article
The study examines the factoring contract as an easy and quick method of financing of the adherent by way of turning to account of the unmatured claims. The factoring, regulated internationally, has ...been recognized and defined in the Romanian legislation, but without any regulation of its legal system. After the analysis of the framework contract and of the actual factoring contract, the study examines and explains the forms of the factoring contract and their finality, as well as the constitutive elements of the contract, with reference to the specific of the contracting parties and of the participants, as well as to the derived object, concerning certain, liquid, assignable, but not exigible claims. In the approach of the effects of the contract there have been analyzed the rights and obligations of the contracting parties and the relations generated by the contract. In respect of the obligations of the adherent, attention was paid to the transmission of the right over the claims by means of sale and to the achievement of the conventional subrogation and the moment of transmission of the right over claims, depending on the distinction between old line factoring and the maturity factoring. Likewise, it has been analyzed the legal and conventional obligation of warranty of the adherent in correlation to the risks assumed by the factor, related to payment default of the claims and the insolvency of the assigned debtor. In the same context, it has been also treated the problem of notification of the debtor concerning the assignment of claims, highlighting the consequences of the notification with regard to the enforcement of claims, as well as the aspects of opposability of the assignment to the debtors and to third parties, with reference to recording of the transmission of the universality of claims in the Electronic Archive of Security Interests on Movable Property.The rights and obligations of the factor have been examined from its perspective of owner of the invoices accepted for payment and of the takeover by the latter of the task of collection of claims from the clients of the adherent, in close correlation with the factor's function of financier of the adherent, by the payment of the claims assigned before maturity. The patrimonial factor-adherent relations have been integrated into the role of the current account opened by the factor for the payment of claims assigned and of the discount covered by the adherent, resulted from the difference between the nominal and conventional value of the claims assigned. By the correlated mechanism of crediting-debiting, the current account also fulfils its accounting function of crediting the adherent with the amounts that the factor collects as mandatary with regard to the invoices not accepted for payment and the function of debiting with the amounts owed by the debtor, following the regression for the claims for which the adherent has conventionally assumed the risk of payment default or of insolvency of the debtor. The effects of factoring contract are analyzed also in terms of its impact in case of insolvency of the adherent, including of the consequences related in this case to the turning to account of the claims assigned with regard to the assigned debtor. It was treated also the reverse-factoring mechanism, as well as the relations between the adherent, the factor and the assigned debtor, in relation to the effects of the notification in terms of the turning to account the claim right of the adherent, of the factor and of the payment obligation of the assigned debtor. In the final part of the study, there have been outlined the legal features of the factoring contract, with special outlook on the character intuitu personae of the contract, on the character of adherence contract and of random contract, in the hypothesis that the factor assumes the risk of payment default or of insolvency of the assigned debtor. The scientific approach led to the classification of the legal nature of the factoring contract as a complex of contracts and legal figures different, but convergent, with its own physiognomy and autonomy, which differentiates the factoring contract from its components. The particular configuration of the factoring contract, which defines it as a whole with its own legal system, has brought to attention the need for demarcation of the contract from its components.
•We analyzed over 33,000 financial operations involving an Italian factoring company.•We present network construction techniques based on different risk factors.•Social network metrics are an ...important addition to anti-money laundering.•Cluster analysis on tacit link networks can help identify suspicious actors.•Our models and metrics are easy to replicate and to integrate into existing systems.
This research explores the opportunities for the application of network analytic techniques to prevent money laundering. We worked on real world data by analyzing the central database of a factoring company, mainly operating in Italy, over a period of 19 months. This database contained the financial operations linked to the factoring business, together with other useful information about the company clients.
We propose a new approach to sort and map relational data and present predictive models – based on network metrics – to assess risk profiles of clients involved in the factoring business. We find that risk profiles can be predicted by using social network metrics. In our dataset, the most dangerous social actors deal with bigger or more frequent financial operations; they are more peripheral in the transactions network; they mediate transactions across different economic sectors and operate in riskier countries or Italian regions. Finally, to spot potential clusters of criminals, we propose a visual analysis of the tacit links existing among different companies who share the same owner or representative. Our findings show the importance of using a network-based approach when looking for suspicious financial operations and potential criminals.
Salah satu alternatif pembiayaan yang dapat digunakan oleh perusahaan dengan menggunakan asetnya sendiri adalah Anjak Piutang. Namun, pengaturan yang tidak tegas mengakibatkan praktik Anjak Piutang ...lebih mengarah pada pinjaman dengan jaminan daripada pembelian piutang. Hal ini dapat dilihat dari jenis Factoring with Recourse yang membebankan risiko piutang yang tidak tertagih kepada Klien (penjual piutang). Oleh karena itu, diperlukan penguatan regulasi dan perjanjian Anjak Piutang untuk mengoptimalkan Anjak Piutang sebagai alternatif pembiayaan perusahaan melalui pembelian piutang. Penguatan regulasi dapat dilakukan dengan memberikan pedoman dalam perjanjian Anjak Piutang untuk mencantumkan klausul buyback (pembelian kembali piutang) oleh perusahaan (klien) dalam Factoring with Recourse. Pengawasan terhadap penggunaan perjanjian baku menjadi salah satu upaya untuk memastikan perjanjian memenuhi esensi Anjak Piutang.
The uncertainty and financial instability that has plagued companies and industries in the last decade is one of the root causes behind the development of Supply Chain Finance (SCF), a set of schemes ...aiming to optimise the management of financial flows at the supply chain level. Recent years have seen a proliferation of different SCF schemes, with different impacts on working capital costs and requirements throughout the supply chain. The practicality of SCF usage indicates that the concurrent adoption of multiple schemes is not only possible, but even likely. However, literature on SCF still focuses on individual SCF schemes, while the concurrent adoption of multiple SCF schemes remains largely unaddressed. Thus, the objective of this paper is to assess the tangible benefits deriving from a multi-scheme SCF strategy. Based on the analytical formulation of the benefits of three relevant SCF schemes (Reverse Factoring, Inventory Financing and Dynamic Discounting), the paper formalises a model that investigates the benefits that a buyer can achieve by onboarding suppliers onto these three schemes. The results show how working capital requirements and the cost of finance represent the key parameters to assessing the benefits of the concurrent adoption of multiple SCF schemes. Moreover, the funding limits of the SCF schemes themselves strongly affect the relevance of such strategies; strict limits will increase the relevance of having ‘alternative’ schemes available to onboard suppliers. To highlight the managerial relevance of the model, the article provides a numerical example based on a real-world application.
•Concurrent adoption of multiple Supply Chain Finance schemes is becoming common among practitioners.•Concurrent adoption of multiple SCF scheme has potential to lead to higher overall tangible benefits for the adopting buyer.•Parameters affecting such benefits are working capital costs and requirements within the supply base, as well as scheme-dependent funding limits.
Colombia, desde mediados del año 2000, se encuentra en un proceso progresivo de implementación de la factura electrónica. Por diversas razones, el enfoque del gobierno nacional se ha dirigido hacia ...la obtención de los fines fiscales que se llevarían a cabo con la generación de este documento, pero ha relegado a un segundo plano lo referente al título valor que caracteriza la factura. Quizás por esto, a la fecha de publicación de este artículo, esto es abril de 2019, no se cuenta con una regulación suficiente para realizar las operaciones de factoring a través de los sistemas de negociación electrónicos. Y si bien es cierto que con este fin se expidió el Decreto 1349 de 2016, el cual establece una serie de reglas de circulación, dicho decreto aún no se ha puesto en marcha, dado que la Ley 1231 de 2008 y otras normas referentes a los títulos valores se encuentran vigentes, y estas en su mayoría se contemplaron en su momento para regular únicamente la circulación del título valor como documento físico. En este sentido, se evidencian diferentes problemáticas que de no ser reguladas oportunamente por el legislador podrían generar inconvenientes en el futuro para la factura electrónica como título valor y en consecuencia para las operaciones de factoring.
Timely optimisation of accounts receivable is important for the development of business and the overall economy, because it actively contributes to reducing the “frozen” debt funds, reducing the need ...for additional sources of financing, and, accordingly, increases the company’s liquidity, which, in turn, improves its reputation as a reliable partner. Due to the imperfection of the financial system and the unpopularity of modern debt optimisation measures at Ukrainian enterprises, it is particularly relevant to analyse the real problems of forming accounts receivable and investigate promising areas for its reduction. The purpose of the study is to consider and test innovative financial methods for optimising counterparty debt to the enterprise in Ukraine, including factoring and insurance of accounts receivable. The practical significance of the study is as follows: based on the analysis of the current state of accounts receivable, the use of factoring services for its optimisation is proposed; using the modelling method, key forecast indicators of liquidity at the enterprise under study are determined, the areas of insurance of accounts receivable are formed, the effectiveness of the proposed measures is substantiated. The study summarises the theoretical foundations of optimising accounts receivable in the system of ensuring the efficiency of an enterprise. The analysis of the financial and economic state of the business is carried out. The analytical support of a system of indicators and assessment of the quality of accounts receivable generation is investigated. Forecasting and optimisation of the level of accounts receivable based on innovative financial methods was performed to ensure effective business operations. Ways to improve the management of accounts receivable of the enterprise are provided. The positive impact of measures on the efficiency of the enterprise based on financial indicators – liquidity and turnover ratios – is proved. The problems of widespread use of the proposed methodology are indicated, and suggestions for solving these problems are given. The practical significance of the results obtained lies in the applied orientation of innovative financial methods described in the paper, the use of which will improve the process of optimising accounts receivable at the enterprise level, improve the process of managing accounts receivable, increase the level of liquidity and profitability of the business. The materials of the study would be useful for researchers who deal with the management and optimisation of accounts receivable, and can be comprehensively used in the business activities of “Energo Zbut Trans” LLC.
Predicting sediment transport in a river system is necessary when attempting to monitor river changes due to incoming particle deposition from upstream reaches. Previous studies have used various ...techniques such as probabilistic, regression, and equal mobility approaches to make predictions. However, issues associated with multicollinearity occur when using the regression approach. Significant correlations between the explanatory variables in a regression equation can increase the coefficient variance estimates, which make these estimates very sensitive to minor changes. Thus, we propose the use of principal component analysis as a solution to these issues. We observed that the variance inflation factor is less than 10, which indicates the nonexistence of issues associated with multicollinearity. Fitting components to the regression equation create a new prediction model for sediment transport, which improves upon previous equations using the same technique.
The Factoring 2.0 in the Era of the Fintech Revolution Context Youssef, Wissem Ajili Ben; Mansour, Nadia
Digital Technology and Changing Roles in Managerial and Financial Accounting: Theoretical Knowledge and Practical Application,
01/2024, Volume:
36
Book Chapter
Abstract
The health crisis linked to COVID-19 has made digitization a significant issue for companies regardless of their form or geographical location. Our research focuses on the financial ...technology (Fintech) revolution in the context of international development. Its theoretical framework lies in both the fields of Fintech and factoring. As innovative start-ups that combine finance with new technologies, Fintechs have been able to disrupt the banking world in a few years by challenging its traditional practices. We use the case method to analyze two Fintech in-depth, and our results highlight the upheaval of Fintechs in the factoring sector. The supply of the analyzed Fintech is a limited working capital requirement. Furthermore, Fintechs may threaten classical banks due to the innovation of their offers and business models. However, the Fintech revolution focused on corporate finance is still in its infancy.
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