With more than 420 members, the International Factoring Association is the world’s largest association of commercial finance companies. It serves the factoring industry by providing information, training, and other resources for its members. Membership is open to factoring companies, banks, asset-based lenders, and finance companies that perform financing or factoring through the purchase of invoices or other kinds of accounts receivable.
This nonprofit association enables commercial factoring professionals to meet and discuss issues and concerns about the industry. Each year, the association holds the largest conference in the world for financial services companies that purchase invoices or accounts and in 2016, the organization held its 22nd conference in Scottsdale, Arizona. Members receive the Commercial Factor magazine six times a year and the IFA newsletter every week.
International Factoring Association Code of Ethics
Members of the International Factoring Association must adhere to the IFA Code of Ethics, which specifies the highest standards of honesty, competence, and professionalism:
- Members will aspire to the highest level of professional ethics, as generally expected by the business community.
- Members will aspire to the highest level of industry competence through continued education, and by sharing ideas and experiences with other IFA members.
- Members shall be honest and thorough in all business dealings, including dealings with clients, client’s customers, lenders, and others in our industry.
- Members shall utilize and maintain accurate accounting systems to track each client’s
- 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.
- Members will facilitate the move from one factor to another, should a client wish to make a change.
- Members shall abide by all local, state, and federal laws.
- No member shall engage in any activity constituting or leading up to a conflict of interest.
- Members shall treat all persons fairly and equally, regardless of race, religion, gender, disability, age or national origin.
- 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.
- Members shall subscribe to truth in advertising standards.
- 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.
- Members shall communicate non-confidential information relating another member’s
violation of this Code of Ethics to the IFA Advisory Board. In the event of such a violation, the member will be required to change their behavior.