Certified Factoring Professional (CFaP)
An ICC-backed, comprehensive factoring qualification
Factoring and receivables finance are vital tools for businesses seeking liquidity and growth, but the sector faces increasing risks—from fraud cases to the complexities of supply chain finance. Existing training is often narrow or fragmented leaving a gap for professionals who need comprehensive expertise. The Certified Factoring Professional (CFaP)responds to these needs with a rigorous, practical training programme backed by the authority of the ICC. It will equip you with the technical skills and real-world expertise to address industry risk, support clients, and advance your career in an evolving trade finance environment.
Why take the CFaP?
Comprehensive coverage: CFaP contains more than 20 hours of learning covering both domestic and international factoring in depth.
Global recognition: The CFaP is developed and endorsed by ICC, the global authority on trade finance, ensuring credibility and international relevance.
Practical application: Use real-world case studies, interactive activities, and fraud risk scenarios to help you bridge theory with practice.
Curriculum
The 21 hour CFaP curriculum is split over seven lessons that equip you with a solid understanding of factoring fundamentals, international trade finance, supply chain financing, legal and accounting frameworks, risk mitigation, and selling skills.
Lessons
You must complete all 7 lessons to take the final exam.
Lesson objectives:
- Define the concept of factoring
- Enumerate the steps of how factoring works
- Explain how factoring helps the seller and factor
- Differentiate the different types of factoring
- Identify the two main charges for factoring
Lesson objectives:
- Differentiate the types of international factoring
- Enumerate the steps to the international factoring process
- Explain the roles of the various parties involved in international factoring
- Explain the benefits of export factoring to the exporters
- Describe how international factoring helps exporter exports competitively
Lesson objectives:
- Define reverse factoring
- Describe the onboarding and funding process
- Differentiate traditional factoring and reverse factoring
- Identify the benefits of reverse factoring to anchor buyer and supplier
- Enumerate the different types of Supply chain financing products
Lesson objectives:
- Identify and list at least three key components of a factoring operation and explain their functions
- Describe and enumerate at least two additional controls used in non-notification factoring and discuss their importance
- Identify and explain the key items to look for during an audit
- Monitor buyer payments effectively by listing and applying at least two techniques
- Analyze at least two strategies to determine appropriate advance amounts in export factoring to reduce risk
Lesson objectives:
- Explain the importance of managing seller, buyer, import factor, and credit insurance
- Identify unfactorable debts by listing at least five examples
- Compare the different types of limits and their importance in factoring
- Enumerate the criteria for setting the buyer advance limits based on the spread of debts
- Demonstrate how to use a credit insurance policy, outlining the important criteria and considerations
Lesson objectives:
- Differentiate between the purchase of debt and loan by analyzing the legal and financial implications of each
- Explain the importance of notifying the customer in factoring agreements, including the effects on legal priority and payment obligations
- Identify and evaluate common problems encountered when taking assignments of debts, including legal and financial challenges
- Illustrate how recourse and non-recourse factoring are recorded in both the seller’s and factor’s books, providing examples of accounting entries
- Determine the applicable laws in international factoring by examining the legal requirements of different jurisdictions and their impact on factoring agreements
Lesson objectives:
- Differentiate between selling based on features and selling based on needs
- Explain how dynamic factoring facilitates the growth of SMEs
- Demonstrate techniques to handle objections in factoring effectively
- Apply Benford’s Law to detect potential fraud in factoring transactions
- Evaluate various techniques and risk analytics used to manage factoring risks.
Examination FAQ
To pass the Certified Factoring Professional (CFaP) and earn your ICC certificate you will need to complete a final 1-hour, online exam.
- The final exam can be taken at any time after you have completed all 7 lessons in the curriculum.
- It lasts for 60 minutes and is live proctored via the internet. This means there is someone monitoring your environment via webcam to ensure there is no outside interference and maintain the integrity of the certification.
- The exam consists of multiple-choice questions and the pass mark is 80%
Your purchase of the CFaP includes one attempt at the exam. Subsequent attempts can be purchased for US$100 if you are still within your 6-month access period.
If you pass the exam, you will be awarded a digital, internationally recognised, ICC certificate of achievement to share with your professional network.
Who is this course for?
Relationship managers
The CFaP empowers relationship managers to confidently position factoring solutions, strengthen client relationships, and drive new business.
Credit managers
The CFaP equips credit managers to mitigate fraud and risk by applying robust assessment, monitoring, and credit limit practices.
Trade operations staff
The CFaP trains operations staff to manage factoring transactions securely, ensuring accuracy, compliance, and risk control.
Learning and development partners
Banking and finance HR and L&D teams under pressure to ensure that trade finance compliance is supported with credible, globally-recognised certifications.
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FAQ
Your purchase of the CFaP allows one attempt at the exam. If required, a retake can be purchased for US$100 if you are still within your 6-month access period. Please contact our Help Desk at helpdesk@iccacademy.com.sg
- The final exam can be taken at any time after you have completed all 7 lessons in the curriculum.
- It lasts for 60 minutes and is live proctored via the internet. This means there is someone monitoring your environment via webcam to ensure there is no outside interference and maintain the integrity of the certification.
- The exam consists of multiple-choice questions and the pass mark is 80%
Your purchase includes 6 months to access all 7 lessons. You can access the lessons as many times as you like within the 6-month access period.
It will take approximately 20-25 hours to complete all 7 lessons depending on your level of experience. The final exam is 1 hour long.
Due to the immediate availability of our course content upon registration, ICC Academy has a strict no-refund policy for our courses and certifications. For more details, please refer to our Terms and Conditions.
Relationship managers
The CFaP empowers relationship managers to confidently position factoring solutions, strengthen client relationships, and drive new business.
Credit managers
The CFaP equips credit managers to mitigate fraud and risk by applying robust assessment, monitoring, and credit limit practices.
Trade operations staff
The CFaP trains operations staff to manage factoring transactions securely, ensuring accuracy, compliance, and risk control.
