Daily News: July 25, 2014

IFA Forms Alliance with Chinese Factoring Association

The International Factoring Association entered into a cooperative agreement with the Commercial Factoring Expertise Committee of China Association of Trade in Services (CFEC). Both the IFA and CFEC are looking forward to extending their reach by organizing seminars and workshops on factoring topics and by holding networking events. The shared goal of the two organizations is to assist banks, finance companies and users of alternative financing services engaged in factoring and receivable financing by providing information, training, and purchasing power. The cooperative agreement allows both associations and their members to:

  • Publicize each other’s events.
  • Assist each other in organizing factoring seminar workshops.
  • Extend invitations to members of both organizations for seminars and workshops.
  • Allow members of either association to attend events at the other association’s membership only rate.
  • Build a global network of factoring professionals.
  • The IFA also entered a similar agreement with the Colombian Association of Factoring and the Romanian Factoring Association, and serves as a mentor to both, helping increase their membership and events.

    “Extending our reach to Asia with this partnership helps us fulfill our mission to educate businesses around the globe, increasing their understanding of alternative financing solutions on a global basis,” said Bert Goldberg, IFA executive director. “We’re pleased to be able to take a leadership role in advancing in our industry, and we’ll continue to look for beneficial partnerships.”