CFaP for Singaporeans and PRs
How it works
The full certification cost for the Certified Factoring Professional (CFaP) is SGD$870 plus GST. If you meet the eligibility criteria below, then you can use the FTS scheme to subsidise this cost.
New cohorts start every month. Contact our team to get started.
IBF-FTS Funding
The CFaP is accredited under the Institute of Banking and Finance’s Financial Training Scheme (IBF-FTS), that provides funding for financial sector-specific training courses.
- Singapore Citizens or Singapore Permanent Residents who are physically based in Singapore
- Available to company-sponsored individuals only
- Individual’s company must either be a financial institution regulated by the Monetary Authority of Singapore (MAS) or a FinTech firm certified by the Singapore FinTech Association
- You must successfully complete the CFaP (including passing the online exam) within 6 months of enrolment to claim the funding
How much funding is available?
Funding will only be granted once per calendar year per participant.
- Up to 70% of the full CFaP certification fee: SGD$870 plus GST.
- Check IBF’s FTS funding quantum to see the latest funding quotas.
Join the next cohort
What is the CFaP?
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.
FAQs
To start the process of using IBF FTS funding, please contact our team. You will be required to complete an application and agree to our terms and conditions.
The IBF-FTS Funding Quantum is as per the table within this link: https://www.ibf.org.sg/home/for-individuals/skills-and-jobs-development/training-support/IBF-FTS
You must successfully complete at least 75% of the CFaP course (i.e. 15 learning hours) and pass the examination (not more than 3 tries) within grant period (i.e. 6 months) to qualify for IBF-FTS funding support. If you fail to complete the programme, and/or fail the final examination including any retake, you agree to pay back the full IBF fee subsidy to ICC Academy within 1 month from the last date of access to the programme.
Yes. Only company sponsored learners are eligible for IBF-FTS funding.
Terms and conditions
Terms & Conditions of Business:
- Access to Programme will only be given after full nett payable amount is received.
- No addition or modification to this purchase shall be valid unless agreed in writing between you and ICC Academy.
- The access is not transferable.
Terms & Conditions for IBF Singapore FTS Payment Scheme:
- Funding support for the same course will be granted only once per calendar year per trainee.
The IBF-FTS Funding Quantum is as per the table within this link: https://www.ibf.org.sg/home/for-individuals/skills-and-jobs-development/training-support/IBF-FTS - You must have at least 75% attendance (i.e. 15 learning hours) for each certificate and pass the examination (not more than 3 tries) within grant period (i.e. 6 months) to qualify for the funding support. If you fail to complete the programme, and/or fail the final examination including any retake, you agree to pay back the full IBF fee subsidy to ICC Academy within 1 month from the last date of access to the programme.
- Should a sponsored company trainee leave the company before completion of the programme, the sponsored company agrees to pay the full fee of the certification within 1 month from the notice given.
- The certificate fees which the sponsored company agrees to pay for each participant who failed as defined under the terms and conditions for IBF Singapore FTS Payment Scheme is as follows: https://www.ibf.org.sg/home/for-individuals/skills-and-jobs-development/training-support/IBF-FTS
- For employer-sponsored trainee that falls under the profile “Licensed Representative (e.g. Financial Advisor, Insurance Agent, Remisier) or General Insurance Agent”, you are required to provide Letter of Support (LOS).