Receivable Notification Form (RNF) or Notification of Transfer of Receivable (NTR): Form which is completed for the purpose of notifying to Pamuk Faktoring that the receivables conveyed are formed, in the frame of the contract which is signed by the customer (seller company) with Pamuk Faktoring.

Maximum Factoring Volume (MFV): Total transaction volume which will be recognized to the customer (seller) in order to constitute the basis of the factoring services of Pamuk Factoring.

Remainder Payment: Paying the amount which remains after deducting the related prepayment, reclamation and all of the expenses to the customer (seller) after the collection of the invoice conveyed.

Bank and Insurance Transactions Tax (BITT): Tax which is taken on all kinds of expenses relating to the domestic factoring transactions.

Factoring with notification: Factoring type in which it is notified to the debtor (buyer) that the customer (seller) conveyed its receivables to the factoring company. The conveyance notification is made in written to the buyer by the customer and the confirmation writing of the buyer is provided. A conveyance note is attached on each invoice going to the debtor (buyer).

Factoring without notification: Factoring type in which the customer (seller) does not notify to its buyers that it conveyed its receivables arising from the time sales to the factoring company, there is not any conveyance note on the invoices sent to the buyers, the collections are made by the seller company, the factoring company provided only guarantee and/or financing service.

Debtor/Buyer: Company which is obliged to pay the amount of the invoice and which is in the position of the buyer of the goods.

Debtor Transaction Volulme (DTV): Maximum transaction volume which is recognized separately for each debtor of the customer (seller).

Variable Interest Transactions: Transactions in which the factoring price is daily variable according to the marketing conditions, the customer can make the capital repayment whenever it wants. The interest payment period can be determined at the transaction basis.

Exporter Factoring Company (Export Factor (EF)): Factoring organization which mediates the exportation transaction in the country of the seller company.

Factoring Commission: Proportional price which is taken against the collection, guarantee and follow-up services provided on the conveyed invoice amount.

Factoring Price: Price which is taken against the financing service provided.

Payment Under Guarantee (PUG): Paying the full invoice price to the seller on the 90th day after the invoice due date, in the event the Debtor (buyer) falls in composition, bankruptcy or payment difficulty, without any problem relating to the goods.

Irrevocable Factoring: The factoring company does not undertake the non-payment risk of the receivable, in the event the receivable is not paid by the buyer (debtor), if the factoring company makes any prepayment relating to the mentioned receivable, then it requests these amounts from the customer (seller) together with the expenses.

Revocable Factoring: The factoring type in which the factoring company undertakes the non-payment risk of the receivable under the conditions stated in the limit approval notification.

Re-conveyance: Return of the invoices, which are conveyed and which are not possible to be collected due to various reasons, to the seller.

Exportation Factoring: Factoring transactions which are carried out in the event the customer (seller) is located in the country and the debtor (buyer) is located at abroad.

Exporter Factoring Company (Export Factor (EF)): Factoring organization which mediates the exportation transaction in the country of the seller company.

Dispute: Case of occurrence of reclamation relating to the goods purchased with the invoice conveyed by the debtor (buyer).

Importer Factoring Company (Import Factor (IF)): Factoring organization which mediates the importation transaction in the country of the debtor (buyer) company and provides the guarantee relating to the buyer company.

Available Funds Account (AFA): Account in which all of the prepayments and expenses which are made to the customer (seller) are followed. The remainder of the account constitutes the debt of the company.

Limit Cancellation Notification (LCN): Writing which notifies that the guarantee limit, which is allocated for the debtor (buyer) by the factoring company, is cancelled.

Limit Approval Notification (LAN): Notification which is made to the customer (seller) Pamuk Faktoring for the purpose of operating the guarantee provisions in the contract, and which contains the guarantee limit and term about the receivable guaranteed and the debtor as limited with this framework.

Cash Collection: Payments which are made by the customer (seller) to the factoring organization against the expenses arising from the factoring application or its risk.

Approved Receivable: Receivables which are involved in the guarantee limit which is provided by Pamuk Faktoring at a certain moment.

Unapproved Receivable: Receivables which are not involved in the guarantee limit which is provided by Pamuk Factoring at a certain moment.

Prepayment: Payments which are made to the customer (seller) before the due date of the receivable, concerning the receivables conveyed to Pamuk Factoring.

Prepayment (Financing) Rate: Financing rate which could be provided to the customer concerning the receivables acquired by Pamuk Faktoring.

In-advance Discount: In determining the prepayment amount to be made to the customer (seller); the calculation method including the calculation of the factoring fee, commission and other expenses and in which all of the mentioned expenditures are accrued on the prepayment date by means of taking into consideration the term of the receivables conveyed on the related date.

Spot Transactions: Keeping the factoring fee rate to be applied up to the due date of the receivables conveyed or any date determined fixed. The accrual of the factoring fee is made on the date which is determined as due date.

Domestic Factoring Transaction: Factoring transactions in which the customer (seller) and the debtor (buyer) are situated in the same country.

Conveyance Note: Note which shows that the invoice is conveyed to Pamuk Faktoring or another factoring company to be selected by it, attached on the invoice or added in printing the invoice. It is written in the language of the debtor.