EU Federation for the Factoring and Commercial Finance Industry

On March 1st 2012, EUF Independent Chairman John Gielen and EUF Independent Co-ordinator John Brehcist met with the Board of Leaseurope - the voice of leasing and automotive rental in Europe.

John Gielen talked through a presentation on the background, development and strategy of the EUF and the two Johns answered a range of direct and interesting questions posed the Board.

Both Groups recognise the importance of promoting their Industry's interests and Leaseurope have forty years of experience in pursuing this aim; the EUF is in its third year and welcomes the opportunity for the dialogue. There are indeed areas, for example the implications of Basel III and the EU CRD IV directive, where discussion and joined up thinking could be of significant value.

Thank you to Jukka Salonen (Chair) and Tanguy van de Werve (Director General) for the invitation and to the Board for their courtesy.

The EUF Legal Study Update

Back in 2007, IFG and ABFA (UK) in partnership created a groundbreaking comparative study of the legal and regulatory environments for factoring and receivables financing in Europe and some other major markets

In 2011, the EUF took over the project and initiated a full update.

The present study is a compendium of the different legal, fiscal and other environments relating to receivables financing in all of the 27 EU member states and in 5 important non EU “benchmark” countries, Norway, Russia, Switzerland, Turkey and the USA.

The value of this study lies in bringing this important information together in one place for reference purposes.

To compile the necessary information, knowledgeable individuals from within the industry have been asked to answer a series of questions about their own national legal environment and the EUF is most appreciative of the assistance received from enterprises as well as national associations in the factoring, invoice discounting and receivables financing industry.

The study consists of 13 questions touching most of the areas of receivable financing and factoring.

Copies of the Study are available to interested third parties for the sum of €100 plus postage and packing.

Enquiries and orders should be directed to This e-mail address is being protected from spambots. You need JavaScript enabled to view it who will confirm overall pricing including carriage.

Disclaimer:

All answers to the questions have been given by individuals in good faith and to their best knowledge of the environment of factoring and receivables financing existing in their respective countries at the time of responding. However, the study should not be regarded as a guarantee for being legally executable in any competent court or before any taxation authority or similar institutions. This document is for information purposes only and the information on tax and legal issues contained herein are purely indicative. Neither the EUF, its members and their representatives nor IDH Inkasso und Service GmbH, who assisted in collecting and editing the answers, make any representation and give no warranty relating to any information contained in this updated study. It has to be understood that no checks on the correctness and completeness of the answers have been carried out. Please keep in mind that answers are given on the basis of the rules in existence in the first half of 2011 and that any subsequent changes are not reflected in this document. 

In a press release, John Gielen, Independent Chairman announces the continuing strong growth of the Factoring and Commercial Finance Industry in Europe during the first half of 2011!

The EUF has published its full annual analysis of the the Industry in the EU 27 countries for 2010.

Compiled by the Economics and Statistics Committee under the Chairmanship of Diego Tavecchia of Assifact, the analysis shows that:

• The Industry total volume was €989,951M
• Year on year volume increased by 17.6% from 2009
• The total volume represented 8% of EU GDP
• EUF members represent 97.32% of the European Industry
• The top five markets, UK, France, Italy, Germany and Spain represent 78% of the total volume
• Other markets are growing rapidly and represent a significant 22% of the overall volume

For full details, please look at the Facts and Figures pages