The necessary conditions should be present for a transaction to be considered as factoring: |
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An invoice which includes the description, amount and payment term information of the products or services to be subject of the conveyance. |
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If the subject of the sale is product; then delivering the products to the buyer by the seller. |
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If the subject of the sale is service; then having completed the mentioned service. |
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Conveying this invoice to a factoring company by the seller before its due date and benefiting from at least one of the factoring services. |