Interfactor agreement
The Interfactor Agreement is a document in formalising the business relationship between FCI members. It is a bilateral agreement in which two FCI members, as correspondents, declare they will be bound by the General Rules for International Factoring, the Rules of Arbitration and the edifactoring.com Rules.
When should you sign it?
As soon as you are operational, you should sign an Interfactor Agreement with all foreign members of FCI. It does not commit you, but you will have the agreement in place when you decide to work with an IF correspondent. Send two signed copies and the foreign company will sign both and return one copy to you.
Moreover, once the physical document is signed, an edifactoring.com messages must be also exchanged between the correspondents (message 00).
Standard modifications
For only one country a Standard Modification of the Interfactor Agreement is in force and this one should be added in the specially provided space before you send it to members in that country. The text of this Standard Modification can be found in Legal Circular 0.2. No other changes or additions are allowed.
For further guidance on this subject, see Appendix A of the Communication Manual.