Membership Benefits

Downloadable Version

Membership of the ITFA provides access to a number of benefits:

Knowledge, Education and Market Intelligence

Education Courses

The ITFA has been holding regular training courses for which members receive a preferential attendance rate. The courses, which are held in major cities around the world, have provided an essential grounding in forfaiting techniques and practices. These courses are mostly intended for newcomers to the forfaiting and cross border trade finance market who also profit from meeting their peers from other member organizations and actively participating in simulated transactions and case studies. While still continuing education on forfaiting, the ITFA is looking to increase the number of courses as it now focuses not only on forfaiting but also more generally on trade finance and related hedging techniques.

Workshops on Regulatory / Business Topics

Within each region, members gather on a regular basis to discuss topics which preoccupy the market such as new regulations or laws, movements in the market and new business trends. These workshops are open for members only. The participants all have to have sufficient experience and seniority to participate in a meaningful way in the discussions.

Rules Dispute Resolution Services and Advocacy

URF

The IFA’s Market Practice Guidelines were the start to the ITFA’s important role in the generation of a safer and more efficient market environment. A guide to the secondary and the primary forfaiting market is also available in the membership area of the ITFA website.

However, guidelines soon did not cover the needs of this internationally growing market of forfaiting. Thus the ITFA has published in cooperation with the International Chamber of Commerce (ICC) a set of rules for the forfaiting industry called The Uniform Rules for Forfaiting – the URF 800. URF 800 is the equivalent of the Uniform Customs and Practice for letters of credit. URF 800 deals with important issues such as the examination of documentation and recourse. It includes a set of model agreements for both the primary and secondary market. The Market Practice Committee may be consulted on all questions from ITFA members relating to the application of these rules.

Conciliation and Arbitration

The ITFA offers conciliation and arbitration services in cases of dispute where at least one member of the Association is involved. This unique service is of particular value in those rare cases where forfaiting disputes arise.

Advocacy Work in Cooperation with Other Associations

The ITFA is working closely together with Associations such as ICC, BAFT and EBRD in order to make regulators understand our business better and create a better environment for doing business.

Work on BAFT MRPA

The ITFA is supporting its members to get up to date with the newest regulatory requirements and helps them to adapt their products and mitigation tools. One example is the present endeavor to obtain a Legal Opinion valid for all ITFA members to comply with CRD IV.

Business and Networking

The ITFA Annual Conference

The Annual Conference gives trade financiers and forfaiters world-wide an opportunity to get together, exchange views, make new acquaintances and renew contacts. Speeches, presentations and workshops on topics of special interest to trade and forfaiting are at the core of every Conference, which takes place in September each year and is one of the highlights of the trade finance year. The Conference, which focuses on key market issues and trends, provides a business platform for trade financiers and forfaiters to conduct business in a dynamic business forum.

Regional Events

The ITFA’s Regional Committees hold regular social events, presentations and speeches, introductions and workshops on changes in market practice and documentation. Hosted by the ITFA, these provide a valuable opportunity for members to keep abreast of recent regional market changes and maintain their competitive advantage. It is equally a platform to meet new business partners and to discuss potential business.

Member Communications

The ITFA is currently updating its website to give members access to a current interactive website / technology-led platform that delivers regular updates on market guidelines, best practice, regulation, education, breaking news and that updates on new and existing members.

We are currently working on this technology-led platform to deliver for you:

  • An online presence through news and facilitating two-way information flows and networking to enable smarter decision making for trade finance professionals
  • Industry White Paper development and publication
  • News flow through online editorial including newsletters, new members and profile / breaking news / thought pieces / people news

News and Bulletins

Two key features of member communications are the regular news letter and postings that are provided to members through the website. News items may include details of new members and other significant events in the global trade and forfaiting market. In addition, this is a platform for members to share matters of importance with other members, through the ITFA’s channels, and by contacting info@itfa.org.

Practical Information

Annual Membership Fee: Euro 1,250

How to become a member:

  • Download from the ITFA website the Application Form.
  • Complete it.
  • In case of an institution not operating under a banking license of a Central Bank, a sponsorship from two existing ITFA members is necessary. Banks will automatically be accepted as a member.
  • Send the Application to the chairperson in charge of your regional committee – or if not available to any of the board members.

Your Contacts

German Regional Committee – GRC

Contact: Waltraud Raderschall at waltraud.raderschall@commerzbank.com

Address: Commerzbank AG,Frankfurt

Northern European Regional Committee – NERC

Contact:  Dalia Kay at dkay@federatedinvestors.com

Address: Federated Investors

Southern European Regional Committee – SERC

Contact: Stephane Gonon at stephane.gonon@ca-cib.com

Address: Credit Agricole CIB, France

Middle East and North Africa Regional Committee – MENARC

Contact: Krishnakunar Duraiswamy at krishnakumar.duraiswamy@adcb.com

Address: Abu Dhabi Commercial Bank, Abu Dhabi

Central and Eastern European Regional Committee – CEERC

Contact: Semih Oezcan at Semih.Ozcan@denizbank.at

Address: DenizBank AG, Vienna

North East Asia Regional Committee – NEARC

Contact: Jing (Jane) Li at lijgj_hq@mail.notes.bank-of-china.com

Address: Bank of China, Beijing

South East Asia Regional Committee – SEARC

Contact: Kenneth Tay at kennethtay@hsbc.com.sg

Address: HSBC,Singapore

Brazil Regional Committee – BRC

Contact: Renato Schulman at renato.schulman@finantia.com.br

Address: Finantia, Sao Paolo

Association of Forfaiters in Switzerland – Vefi

Contact: Dieter von Boddien at boddien@atlanticforfaiting.com

Address: Atlantic Forfaiting, Zürich