Factoring and Faculty of Actuaries: Difference between pages

Latest revision as of 11:01, 3 May 2022

(FOA).

Formerly, one of the two professional actuarial bodies in the UK, based in Edinburgh - the other body being the Institute of Actuaries.

In 2010 the Faculty of Actuaries merged with the Institute of Actuaries to form the Institute and Faculty of Actuaries.

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-The sale or transfer of legal title to accounts receivable to a third party (factor), either with or without recourse. Often a convenient but relatively expensive form of finance for weaker corporate credits.
+(FOA).
-A financing technique whereby a company sells its invoices, at a discount, to a factor. The factor then becomes responsible for collecting the debt.
+Formerly, one of the two professional actuarial bodies in the UK, based in Edinburgh - the other body being the Institute of Actuaries.
+In 2010 the Faculty of Actuaries merged with the Institute of Actuaries to form the Institute and Faculty of Actuaries.
-Arrangements can be with or without recourse. Recourse factoring allows the factor to recover any losses caused by bad debts from the borrower.
 == See also ==
-* [[Factors]]
+* [[Actuary]]
-* [[Internal factoring]]
+* [[Institute and Faculty of Actuaries ]]
-* [[Invoice discounting]]
-* [[Recourse]]
-* [[Securitisation]]
+[[Category:Compliance_and_audit]]
+[[Category:Financial_risk_management]]