IFD Industry Training
The Institute for Factors and Discounters of Australia and New Zealand conducts an Industry Training program on behalf of its members. The course, entitled ‘Factoring and Discounting in Australia’, was written by IFD members (see course outline below) and is delivered through the national training network of the Australian Institute for Credit Management (AICM).
The course is available as a two-day intensive face-to-face program, or can be completed online. It can be completed as a stand alone course, or can form part of the Diploma of Financial Services provided by AICM. For more information about factoring and discounting course and the Diploma program, please contact AICM on (02) 9906 4563 or visit www.aicm.com.au
Factoring and Discounting in Australia
Course Outline
Section 1: Introduction to factoring and discounting
1.1 What is factoring/discounting?
1.2 Assignment of debt
1.3 Benefits over lending against receivables
1.4 Different characteristics of discounting as compared to factoring
1.5 Recourse and non recourse
1.6 Purchase price and balance of purchase price
Section 2: History of factoring and discounting
2.1 The ancient history
2.2 History of modern factoring
2.3 Discounting
2.4 Factoring and discounting in Australia
2.5 Growth in factoring
2.6 Growth in discounting
2.7 Summary
Section 3: The benefits of factoring and discounting
3.1 Enhanced cash flow enabling growth
3.2 Modelling of potential cash flow benefit
3.3 Outsourced collection activity (factoring only)
3.4 Prompt settlement discount
Section 4: How a facility operates in practice
4.1 Facility approval - factoring/discounting
4.2 Typical security documents and their purpose
4.3 Key variables governing a factoring and discounting relationship
4.4 Verification of debts at take on
4.5 Assessment of credit worthiness
4.6 Determining what should be approved for funding purposes
4.7 Notification of assignment of debt
4.8 Calculation of payment to a client and recovery of fees
4.9 Invoice batches / due diligence / ongoing debtor assessment
4.10 Payment of retention
4.11 Typical client reports
4.12 Collection activity (relevant for factoring only)
Section 5: Legal aspects of assignment of debts
5.1 Types of assignment of debt
5.2 Notice of assignment
5.3 Assignment of related rights
5.4 Concept of equities
5.5 Issues affecting assignability and problem debts
5.6 Legislative requirements
Section 6: Risk aspects of factoring and discounting and how they can be controlled
6.1 Real estate security
6.2 Debt assignment
6.3 Non-delivery of goods and services, and verification of debt
6.4 Fictitious debtors and address/phone number confirmation
6.5 Concentration and setting limits by dollar value and percentage
6.6 Collusion
6.7 Misbanking
6.8 Common debtor/creditor
Course Registration
Please contact AICM for details of upcoming and online courses.
Phone: (02) 99064563 or visit www.aicm.com.au
IFD Student Award
As part of the Industry Training Program, each year IFD selects the outstanding student completing the' Factoring and Discounting in Australia' course as the IFD Student of the Year.
This selection is based on both course work and assessment tasks. This prestigious award is made at the IFD's Annual Luncheon, which is attended by leaders of the factoring and discounting industry in Australia.
The inaugural presentation was in 2005, and the IFD Student of the Year was Ms Lucy Alderwick.
In 2006 the Student of the Year was Mr Daniel La Cognata. Two other students were recognised for their outstanding achievement, Ms Kelly Muntingh and Mr Jason Man.
|
|