Representing the German factoring industry
The German factoring association (Deutscher Factoring-Verband e.V.) was established in 1974 and is based in Berlin. The association represents the interests of German factoring companies, both on a national and an international level. The association’s membership includes not only large companies which tend to operate interationally and also have connections to banking groups, but also many medium-sized factoring companies. Neutral analyses confirm that the association’s members make up more than 98% of the factoring turnover generated by factoring companies which are members of an association in Germany.
Commitment to fair basic parameters
The main goal of the association is to support and protect factoring as a product, with a strong focus on fair tax, legal and economic parameters for factoring in Germany. The members have agreed to a strict code of conduct which ensures that certain performance criteria are met with. This is also the reason why only select factoring companies which fulfil the aforementioned quality standards are admitted as members of the association. All the members of our association are supervised as financial service or credit institutions by the German financial supervisory authority BaFin, thereby ensuring an economically sustainable contribution to a stable and healthy financing system for German SMEs. A network of experts regularly gathers in committee meetings to discuss current issues and developments (prudential/compliance committee, B2C/health committee, business assessment/tax committee, PR/strategic committee and legal committee). Also due to the international backgrounds and connections of many members, these committees’ deliberations consider the increasingly important influences from the European and international levels, too.
Communication and image promotion
The German factoring association (Deutscher Factoirng-Verband e.V.) is a knowledgeable point of contact for the public on all questions related to factoring and it provides precise information about the factoring industry to the press. The association maintains a close contact to other industries and associations representing the German economy. The German factoring association (Deutscher Factoring-Verband e.V.) is a member of the federation of German wholesale, foreign trade and services (BGA - Bundesverband Großhandel, Außenhandel, Dienstleistungen e. V.) and a founding member of the EU Federation for the Factoring and Commercial Finance Industry (EUF) which represents the factoring and receivables financing industry on an EU-level. The German factoring association (Deutscher Factoring-Verband e.V.) is actively involved in the EUF’s work through being represented on the EUF’s executive board and several committees; thereby, it is possible to lobby for suitable EU-parameters for factoring at an early stage.
Continuing education and sustainable employment
The German factoring association (Deutscher Factoring-Verband e.V.) assumes responsibility in the area of (continuing) education for the currently around 2000 members of staff that work in the factoring industry. The association creates and secures places of employment for its employees, with a clear concern and respect for diversity; the association also walks the talk of inclusivity. The German factoring association (Deutscher Factoring-Verband e.V.) maintains its offer of (continuing) education for the different levels within an enterprise. To this end, the association works in cooperation with universities and colleges. Moreover, the association offers events such as congresses and seminars covering up-to-date issues and developments exclusively to its members.
