Factoring companies or financial organisations planning to establish a factoring subsidary or factoring division, are encouraged to consider the merits of applying for FCI membership.
The benefits are many:
- Instant access to a correspondent network in almost 70 countries.
- Training opportunities for management and staff.
- Standardized procedures around a state-of-the-art communication system.
- Arbitration services in case of conflicts with correspondents.
- The opportunity to 'rub shoulders' with the worldwide factoring industry at regular FCI meetings.
However, FCI is not a 'trade association' open to all companies active in the same line of business. Membership is only granted to companies which are committed to maintain the high service standards FCI has pursued since 1968.
Aside from a minimum capitalisation of US $ 2 million, first-class shareholder backing and proven management qualities, new members must commit themselves to be 'active' members (take part in all FCI events, course programmes etc.). Inactive members, or members with a lack of cross-border factoring volume, are asked after an initial period of three years, to leave the organisation again.
For further information, membership fee, application procedures etc., please contact the FCI Secretariat.