Daily News: June 9, 2016

IFA Forms Alliance With Beijing Commercial Factoring

The International Factoring Association entered into a cooperative agreement with the Beijing Commercial Factoring Association.

Both organizations will benefit from sharing knowledge and extending their reach through seminars, workshops and networking events as they learn how factoring works and is regulated in other countries. Greater understanding will help U.S. factors complete cross-border deals and assist BCFA members complete deals in the U.S.

Both organizations assist banks, finance companies and users of alternative financing services engaged in factoring and receivable financing.

The cooperative agreement allows both associations and their members to:

  • Showcase each other’s events
  • Organize factoring seminars/workshops together
  • Invite members of both organizations to their seminars and workshops
  • Attend each other’s events at membership only rates
  • Build a global network of factoring professionals

“Today’s agreement demonstrates our commitment to the industry in Asia as the factoring movement gains momentum,” said Bert Goldberg, IFA executive director. “The agreement sets the stage for future collaborations and forging new relationships. I’m looking forward to working together and to attending our first BCFA event.”

The IFA has entered similar agreements with associations in South America and Europe.

Headquartered in Avila Beach, CA, the International Factoring Association is the largest association of commercial finance companies in the world.