Factoring

International Factoring Chains

 

Whilst bank with good international network undertakes export factoring directly, specialised factor and some banks, undertake export factoring via two factors. The two factors arrangements are usually undertaken via members of international factoring chain. Following the merger between Factors Chain International and International Factors Group there is currently one international factoring group, FCI. FCI provides the following services:

a. Geographical coverage

With members all over the world, FCI enables factor to undertake export factoring worldwide

b. Business Promotion

Export factoring promotion conferences are undertaken by FCI to help members to increase their international factoring volume

c. Education

Education courses, workshops and seminars are conducted regularly to transfer the knowledge of international factoring to staff of their members.

d. Legal framework

All members are required to subscribe to the General Rules of International Factoring ( GRIF) which governs the right and responsibility among  members when undertaking international factoring

e. Communication

FCI also provides  electronic networks network to enable its  members to exchange information and transmitted invoices electronically