GRIF (General Rules of International Factoring)

The GRIF are the general rules for two-factor international factoring. Originally these rules were jointly agreed between International Factors Group (IFG) & Factors Chain International (FCI), in order to create a world standard for the factoring industry. Over the years IFG have made changes to common version of the document so they are no longer identical. These rules are vital in ensuring that daily operations are managed properly.

The rules are divided into 8 sections covering:

• General issues
• Assignments
• Credit Risks
• Collection of Receivables
• Representations
• Transfer of Funds
• Disputes
• Miscellaneous
  

Applicable as per April 1st, 2003, the GRIF provides details on the handling of products and procedures.

• GRIF - General Rules of International Factoring: version of June 19th, 2008
• GRIF: navigation tool (version 4)
• GRIF: time limits (version March 08)
• GRIF: explanations on changes of June 2008

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