Manuals
Over the years FCI has developed technical manuals which are used both in the training courses and for reference purposes. These manuals deal with a wide range of issues arising in international factoring, including operations, communications, legal, credit and business development. In November 2011, the various manuals were updated and streamlined. There is now one manual, consisting of two volumes, which can be downloaded from the FCI Private Net under “Manuals and Guides”. Following is a brief summary of each volume.
Volume I, consisting of:
The Marketing & Sales Toolbox
This manual should not be regarded as a textbook on marketing and sales techniques, nor is there a logical order for the material presented. Nevertheless, any FCI member company which is keenly interested in business development will find a whole series of papers and ideas which can be used in the process of marketing the concept of international factoring and selling it more successfully. There is a separate item in the Private Net Library: “Marketing and Sales Toolbox”. Here you will find the various “tools”.
The Communication Manual
This manual is a complete “how to” document regarding the handling of international factoring transactions in cooperation with other FCI members abroad. All important communication issues are covered including appropriate references to related “legal” rules. The Communication Manual is maintained by the Business & IT Solutions Committee of FCI.
Seller Selection & Control Manual
The first part of the manual examines the question of how we choose the right type of seller. What are the selection criteria? What information do we need about the prospect’s business in order to test these criteria? What is the decision-making process? The second part deals with the procedures for monitoring the business once the seller relationship has started. The manual is maintained by the Education Committee.
Buyer Risk Control Manual
Buyers have an unusual connection with a factoring organisation. Although there is no contractual relationship between them and the factor, nevertheless the buyers can have a major impact on the way the factoring service works. This manual examines the sort of risks which can arise in a factor/buyer relationship and how they can be controlled. The manual is maintained by the Education Committee.
Disputes Prevention & Handling Manual
The disputing of assigned accounts receivable by the buyers can cause more work, create more expense, expose factors to more risk and do more to harm the relationship between all the parties involved than any other event in the factoring arrangements.
FCI Glossary
Volume II, consisting of:
Legal Manual
The Legal Manual includes all legal documents which regulate the interfactor relationships between members and their rights and obligations vis-à-vis the FCI Association. You can find a more detailed description of the contents of this manual in the section, “FCI Legal Framework” of the QSG. The Legal Manual is maintained by the Legal Committee.
The "Guide to the Establishment of a Factoring Operation"
This Guide is an eighty-page document with extremely valuable information, particularly for an organisation new to the factoring business. FCI sells the Guide for EUR 4,000 to non-members, but now that you have joined FCI you can have one copy of the Guide for free.
The material provided with this QSG does not contain the Guide itself, but FCI Circular 3175 will show you how to order a copy of the Guide, for you will be required to sign a Statement of Confidentiality.
Please study that FCI Circular 3175. With a market price of EUR 4,000, it should not be difficult to understand that the Guide is an excellent tool to consider all the important topics which affect the success (or failure) of a new factoring operation.