Regulatory Alerts2019-04-08
Guidelines on the Conduct of Factoring Operations Involving the Purchase of Bills of Exchange
The Croatian Financial Services Supervisory Agency (Hanfa) issued these guidelines on March 29, 2019, to standardize the conduct of factoring operations involving the purchase of bills of exchange and ensure correct interpretation of the Factoring Act. The document mandates that purchased bills must exclusively secure undiscounted claims arising from the delivery of goods or provision of services, and must include specific clauses and maturity terms not exceeding one year. Furthermore, it requires factoring agreements to explicitly identify the transaction type and detail the underlying bill and invoice data to enhance legal certainty and market transparency.
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