ITFA and International Factors Group (IFG) sign cooperation agreement

During a meeting in Milan on 5th of February 2014, the President of the ITFA (International Trade and Forfaiting Association), Mr Paolo Provera and the Secretary General of IFG (International Factors Group), represented by Mr Erik Timmermans signed a cooperation agreement between their respective organizations. IFG will become Associated Member in ITFA and ITFA will become Strategic Partner in IFG.

Recognizing that the world of Trade Finance and the world of Open Account Receivables Financing are moving closer to each other, there is a need for stronger cooperation between the respective trade bodies for these industries. Members of both associations will be invited to attend education and networking initiatives from the other association and where possible joint initiatives will be developed in these areas. It is also the intention to share knowledge and best practices and to invite members to join and become active in the other association at preferred conditions.

The International Trade and Forfaiting Association, ITFA, is the worldwide trade association for commercial companies, financial institutions and intermediaries engaged in forfaiting. Founded in August 1999 and with more than 140 members the ITFA aims to foster business relationships and enable best practice among those engaged in the ever-expanding, global forfaiting community.

IFG, the International Factors Group, is the global trade association that represents and promotes the interests of the factoring, invoice finance and asset based lending industry on a global basis. It brings like-minded organisations together to network, educate and influence, all with a common goal of building the reach and impact of the Receivables Finance Industry in the support of economies, growth and employment. IFG currently has 160 members in over 60 countries.

For more information please contact:

Mr Paolo Provera,
President ITFA – International Forfaiting Association
Paolo.Provera@arabbanking.com
https://www.itfa.org

Mr Erik Timmermans,
Rep. Secretary General IFG –International Factors Group
sg@ifgroup.com
http://www.ifgroup.com