Boozt24 joins FAAN as a member, a branch organization for factoring companies in the Netherlands
The Association of Factoring Companies (FAAN) is a trade association for companies active in the factoring industry. Factoring is a financial service in which a company sells its outstanding invoices to a factoring company, which pays the company directly for a fee.
Why is Boozt24 a member of the FAAN?
Membership gives confidence to our customers, suppliers and other stakeholders. It shows that Boozt24 is actively committed to the sector and adheres to the ethical standards and regulations of the industry.
As a member of the Association of Factoring Companies (Faan), we can enjoy several benefits, such as building relationships with other companies in the factoring industry, access to industry information and resources and attending events and training. In addition, the association can also act as a voice for the factoring industry and advocate for policy issues of importance to the industry and its members and Boozt24's customers.
For example, there have been discussions for some time about the ban on pledging invoices. The pledging ban on invoices is a restriction that in some cases is included in agreements between companies and their customers, whereby the companies are no longer able to sell or pledge their invoices to factoring companies. This could impact the financing options of small and medium-sized businesses that rely on factoring to manage their cash flow.
Through its political lobby, The Faan is committed to legally prohibiting this ban and thus giving SME companies access to working capital through factoring.
As a member of Faan, we stay informed of developments in the industry and actively participate in the association's activities. This way we can make optimal use of the benefits of membership and Boozt24 can further develop in the factoring industry.
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