general information
Mission of the Association of Factoring Companies (AFC) is to promote in every possible way the formation and functioning of the modern factoring market in Russia, to promote the development and popularization of factoring in all regions Russian Federation, standardizing the rules of conduct in the market, improving the quality of factoring services provided, helping to ensure affordable, high-quality and effective satisfaction of the needs of entrepreneurs (potential clients) in factoring services, improving the financial literacy of potential clients, training qualified personnel, promoting (lobbying) and protecting the interests of AFC members .
The basic conditions for the functioning and purpose of the AFC are to:
- coordinate the activities of AFC members;
- participate in the formation of a positive "image" of factoring as a service;
- promote the popularization and development of factoring (including in the regions), increase the attractiveness of factoring;
- act as a link between AFC members and public authorities (including acting as a "subject of legislative initiative");
- promote the provision by its members of a full range of modern competitive factoring products to customers, primarily small and medium-sized enterprises (including those in the regions).
To achieve the above goals, AFC sets itself the following tasks in a number of key areas of its activities:
1. Legal direction
- Development of standards, rules of activity in the factoring market;
- Provision of legal advice (clarification and explanation of various situations, legislation, etc.);
- Sending requests on behalf of the professional community to the authorities state power.
2. Educational direction
- Development of a quality certificate for specialists in the factoring market and certification of specialists. To obtain a quality certificate, a specialist of a factoring company / factoring division will need to pass a special exam, the questions of which will reveal knowledge in the field of rendering factoring and related services. The presence of a certificate will not be mandatory, but will only become a kind of indicator of knowledge and confirmation of the high qualification of a specialist.
- Conducting programs to improve the skills of employees of factoring companies. Such programs will be conducted both by AFC members (master classes) and by invited teachers from leading economic and legal universities of the Russian Federation.
- Conducting lectures, seminars (both members of the AFC and attracted teachers).
- Conducting online conferences on the AFC website.
- Release of educational literature with the participation of AFC.
- Formation of a positive image of factoring;
- Popularization of factoring;
- Issue of own factoring magazine, which will highlight the main market events, publish statistics, provide information about the members of the Association, and publish interviews with company representatives.
4. Statistical direction
- Collection of statistics on the factoring market as a whole;
- Preparation of analytical reports.
5. Arbitration Court
In the future framework of the AFC, it is planned to create an Arbitration Court - a special body created for the purposes of prompt resolution of disputes between members of the AFC, members of the AFC and their clients, members of the AFC and other organizations.
The tasks of the Arbitration Court will be:
- Protection of violated or disputed rights and legitimate interests of AFC members;
- Promoting Customs and Ethics business turnover, as well as the preservation and further strengthening of partnership business relations between the disputing parties, despite the differences between them.
6. Development of AFC cooperation with other associations
- Development of cooperation with international professional associations;
- Development of cooperation with Russian Associations and Unions (bankers, collectors, insurers, etc.).
AFC position in terms of licensing the activities of factoring companies
According to the Association of Factoring Companies, it is not advisable to license activities for financing against the assignment of a monetary claim, and therefore it is necessary to adopt the draft federal law "On Amendments to Article 825" as soon as possible. Civil Code of the Russian Federation and the invalidation of Article 10 of the Federal Law "On the Enactment of Part Two of the Civil Code of the Russian Federation", aimed at abolishing the licensing of factoring.
Main results of AFC activity (October 2008)
To date, the Association has developed an Internet site, which should become an effective tool for interaction between the AFK, its members and participants in the factoring market, as well as a number of fundamental documents:
1. AFC Constitution
The Constitution of the AFC is the main document that defines the rules of interaction between members of the Association, establishing:
- The procedure for the formation and operation of the management and control bodies of the Association: general meeting members, board, Supervisory Board, the President, the Audit Commission;
- Composition and structure, rights and obligations of the members of the Association;
- Requirements for candidates wishing to join the Association;
- The order of entry and exit (exclusion) from the Association;
- The procedure for the formation and payment of membership fees.
2.Code of honor and professional ethics members of the Association of Factoring Companies (hereinafter - the Code of Honor)
The purpose of the Code of Honor is to establish the standards of professional ethics for the members of the Association of Factoring Companies, both increasing the credibility of AFC members and contributing to the sustainable functioning, development and image of the factoring market in the Russian Federation.
In accordance with the Code of Honor, each member of the AFC is obliged to comply with the standards of professional ethics that increase trust and contribute to the development and image of the factoring market. Such ethical foundations professional activities of AFC members are:
- Honesty;
- good faith;
- legality;
- Confidentiality;
- professional competence;
- professional conduct;
- Independence;
- information openness.
The Code of Honor regulates in detail all of the above items, in particular, AFC Members are prohibited from:
- Artificially lower the price of factoring (factoring services), set factoring prices significantly below average market prices and below the cost of the service provided in order to penetrate the market, gain a place on it, and oust other market participants;
- Deliberately poach employees of other AFC participants by offering them more profitable terms work, it is also forbidden to use during the year client base a new employee acquired by him from another AFC member;
- Disseminate deliberately negative information, false, discrediting honor and dignity, undermining the reputation of information about other market participants;
- Disseminate deliberately negative and false information that adversely affects the image of the market as a whole.
The code of honor is obligatory for all members of the AFC in the exercise by them professional activity in the factoring market. Members of the AFC are not entitled to establish for themselves less stringent norms and lower standards of professional ethics than the norms and standards established by the Code of Honor. Compliance with the provisions of the Code of Honor serves as an additional guarantee and evidence of professionalism, reliability and compliance of the AFC member's activities with the legislation of the Russian Federation, generally accepted norms of morality and business practices.
3. An exclusive application form for admission to the AFC
When joining the AFC, the candidate fills out a specially designed form, where he submits general information about himself, the main indicators reflecting the dynamics of the company over several years, attaches a motivation letter outlining the reasons that prompted the company (bank) to join the AFC.
4. Regulations on the AFC Committees (legal, educational)
All committees of the AFC are permanent working bodies of the Association, and are created by decision of the Board of the Association.
The committees carry out their activities in cooperation with the governing bodies and structural divisions AFC, as well as with professional participants in the factoring market, specialized associations and unions (including international ones).
Main Goals and Tasks of the AFC Legal Committee
- Development and implementation of legal expertise of draft regulations and proposals on issues related to factoring, trade finance;
- Development and conduct of legal expertise of draft documents of the AFC, establishing or changing the rights and obligations of members of the AFC;
- Analysis and generalization of the practice of application by participants of the factoring market of civil legislation and financial legislation;
- Development of recommendations for factoring market participants - AFC members on the application of civil law and financial law;
- Development of standards for factoring market participants - AFC members;
- Consideration of other issues related to the activities of the Committee;
- Advising AFC members on various issues related to law enforcement in the field of factoring;
- Advising AFC members on the application of standards and rules of the Association.
The main goals and objectives of the AFC Educational Committee
- Development of an agreed position of AFC members on resolving issues related to improving the quality of education and the level of qualifications of employees;
- Development of a "certificate of a factoring market specialist" and rules for conducting exams for passing the specified certificate;
- Development of uniform standards, rules and regulations regarding the development and improvement of the quality of education of employees;
- Organization and holding of special educational programs(master classes) to improve the skills of employees;
- Organizing and conducting lectures/seminars in the direction of "factoring" for students of economic and legal universities by members of the committee;
- Participation in the production of educational literature.
JSC "Alfa-Bank"
PJSC JSCB
Metallinvestbank
Bank "Financial Corporation Otkritie"
General
Factoring
Russian Factoring Company
Since August 2009 he has been a member of the Association of Factoring Companies.
Russian Factoring Company effectively solves any issues of financing and control of receivables using electronic factoring based on the FactorEx service.
NFC is a company specializing in the provision of factoring and financial logistics, the most experienced player Russian market operating since 1999. NFC offers clients solutions that provide business comfort: factoring, including in the form of buying receivables, financing of purchases and production, compensation for losses from non-payment for deliveries with deferred payment.
NFC together with E-COM is working on the Electronic Factoring (Factorex) project.
ROSEU (Association of Developers and Operators of Electronic Services Systems) is working on the task of developing a unified position of the association members, creating conditions for the harmonious development of the electronic services market in the interests of end consumers, as well as building effective relationships between members of the association and the state. Participation within the association allows E-COM to improve the quality of electronic services and develop new electronic services and tools electronic document management, introducing advanced electronic technologies into the business processes of enterprises.
Participation in the association allows E-COM to improve the quality of services, develop new electronic services, introducing advanced e-technologies into the business processes of enterprises.
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About the association
The Association of Factoring Companies (AFC) is a professional public association of participants in the factoring market in the Russian Federation.
AFK - non-state non-profit organization, which unites legal entities, carrying out factoring operations in Russia, as well as organizations whose activities are related to the provision of factoring services.
Our mission:AFK's activities are aimed at creating conditions in Russia under which a client making deliveries on a deferred payment basis can receive factoring services, regardless of the industry, scale of business and the scope of its buyers.
AFK is a competence center consolidating information, statistics, promoting the best practices and know-how of the factoring market in Russia.
AFK is a tool to achieve the goals of developing the factoring business of its members. AFC members use this tool at their own discretion without prejudice to the interests of other members.
Our principles:- An open dialogue and equal opportunities for all members, regardless of the scale and model of their business organization.
- Maximum service for members.
- Synergy and pooling of resources of members to solve common problems.
- AFC is a center of expertise for regulators, a source and co-author of legislative initiatives on the market.
- The market is resistant to liquidity squeeze, fraudulent schemes, Factor risk management procedures are accepted by Clients and Debtors.
- The reputation of the market is stable, AFK is open to information, and is the center of competence in factoring.
- Opening new industries for factoring.
- Increasing the awareness of clients and debtors about factoring.
- Government support for factoring.
- Expansion of information exchange and cooperation of Factors on the platform of the AFC.
- Joint business and information projects AFC members.
- A comprehensive program to promote factoring in Russia.
Direct involvement in the processes of the factoring market, exchange of experience and joint solution of tactical tasks common to all market participants.
Possibility (through the participation of the Factor's representative in the Board of the AFC and/or committees and working groups of the AFC) to influence the focus of the Association's initiatives.
Access to information and communication services of AFC.
Marketing and information support when promoting the Factor on the market in Russia and abroad.
Raising the status of the factoring division in the bank, intensifying the development of the business of the factoring company - a member of the AFK.
Participation in the AFC today is a real impact on the development strategy and regulation of factoring in Russia, the shortest path to success in the factoring market!
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