The without-recourse discount of a Sace policy: is this a valid alternative to forfaiting?
This was the subject discussed during one of the most successful and interesting events ever organised by International Forfaiting Association (IFA), according to Paolo Provera of Banco Sabadell, chairman of the IFA Southern Europe Regional Committee.
On March 23 Provera organised a conference at the Meliàdelegates representing the Italian and international banks as well as many exporting companies.
Giovanni Rosa, IFA board member, gave an introduction speech and a brief explanation of the IFA’s objectives.
The conference started with Ragnar Granelli of Skandifinaz Bank, a former IFA board member, who opened the session talking about forfaiting – from its roots till the present day followed by talks from the Italian Industrialist Association, Sacmi Group, the Italian Banking Association, Simest, and Sace itself.
The session generated much interest, discussing Simest’s interest support programme and various technical aspects of Sace’s new suppliers “credit policy and compared forfaiting with Sace offerings.
The day ended with a cocktail reception for maximum networking. “The general positive comments on this event will contribute to strengthen the International Forfaiting Association in a period of great change,” comments Provera.