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Aug 11 2017

International Factoring – Invoice Factoring – Money Factoring #factoring #money


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International Factoring Association

Overview

The International Factoring Association s (IFA) goal is to provide information, training and resources to the Factoring community. Membership is open to all banks and finance companies that perform financing or factoring through the purchase of invoices or other types of accounts receivable.

Triumph Business Capital is proud of its membership and participation, and endorses the IFA’s Code of Ethics in all of our business activities. In addition, Triumph has been actively engaged in training and promotion to support the industry’s first and only factoring certification program.

IFA Code of Ethics

  1. Members will aspire to the highest level of professional ethics, as generally expected by the business community.
  2. Members will aspire to the highest level of industry competence through continued education, and by sharing ideas and experiences with other IFA members.
  3. Members shall be honest and thorough in all business dealings, including dealings with clients, client’s customers, lenders, and others in our industry.
  4. Members shall utilize and maintain accurate accounting systems to track each client’s transactions.
  5. Members shall treat all client information as confidential. This information shall not be disclosed to any person or entity, other than at the client’s direction or by court order.
  6. Members will facilitate the move from one factor to another, should a client wish to make a change.
  7. Members shall abide by all local, state, and federal laws.
  8. No member shall engage in any activity constituting or leading up to a conflict of interest.
  9. Members shall treat all persons fairly and equally, regardless of race, religion, gender, disability, age or national origin.
  10. Members shall assist one another in all industry aspects, except for proprietary information. Members shall not use or take advantage of information which may have been obtained in the process.
  11. Members shall subscribe to truth in advertising standards.
  12. Members shall strive to promote the International Factoring Association and its goals and objectives, as well as the commercial finance industry as a whole, through educational venues, public relations opportunities, and member advertising media.
  13. Members shall communicate non-confidential information relating another member’s violation of this Code of Ethics to the IFA Board of Directors. In the event of such a violation, the member will be required to change their behavior.

IFA’s Certification for Account Executives in Factoring

The Certified Account Executive in Factoring (CAEF) designation is the first professional certification of its kind that recognizes professionalism within the Factoring Industry. This designation promotes and protects the factoring industry by providing recognition for those individuals who understand the complexities of general factoring and have demonstrated their expertise in the management of factoring accounts. Earning the CAEF designation is not easily achieved and the CAEF credential demonstrates to all that a Certified Factoring Account Executive possesses superior knowledge and experience. The CAEF has a thorough understanding of and ability to apply all of these essential elements in managing factoring relationships.

Triumph Business Capital supports the IFA Certification program. Four of our team members have currently achieved the CAEF designation. We are actively committed to raising the standards of professionalism and excellence in the factoring industry.


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