Factoring is an organic and specialised system of coordinated services that allows companies to manage their working capital more efficiently through the use of commercial credits.
In Italy, factoring contracts are regulated by a legislative framework that includes articles 1260 ff. of the Civil Code and Law N°. 52 of 21 February 1991.
The juridical assumption underlying factoring operations is the assignment of credit, which transfers ownership from the supplier to the factoring company.
In the current market scenario, factoring is not only a financial instrument but also a global system for the management of companies' credit portfolios through a combination of three principal components:
The management component
Involves the range of administrative activities regarding credit recovery and the cashing of credits which represent, for the client, the possibility of effectively outsourcing such activities and taking advantage of the added value and economies of scale represented by a specialised operator.
The guarantee component
Effected through appropriate contractual formulas that transfer to the factoring company the commercial risks relating to the assigned credit.
The credit component
This is typically managed by the advance of sums corresponding to the credit due to the company by its clients. Factoring does not provide additional financial means, but liquid resources that are in any case available.

Public limited company
Headquarters, Via dell'Unione Europea, nr. 3
San Donato Mil.se

Share capital €5.160.000
Registered as a company in Milan
Fiscal code and VAT N° 07544370153
REA Milan: Nr.1168291
General list of Financial Intermediaries c/o Financial Information Unit: Nr. 8699
Special list of Financial Intermediaries of the Bank of Italy. Nr. 19127
Company subject to the management, control and coordination of Eni S.p.A.
Member of Assifact – the Italian Factoring Association

• Annual Report 2008 - (only italian version) (1.242 Kb)
• Annual Report 2007 - (only italian version) (890 Kb)

The Legislative Decree of 8 June 2001 N° 231 introduced de facto administrative responsibility of the company.

• Principles of model 231 - (only italian version) (117 Kb)

•   Principal norms governing transparency in financial operations and services (only italian version) (63 KB)
• General conditions for future factoring operations (only italian version) (80 KB)
• Explanatory document – without recourse factoring operations (only italian version) (101 KB)
• Explanatory document – with recourse factoring operations (only italian version) (89 KB)
• Explanatory document – maturity factoring operations (only italian version) (97 KB)
• Explanatory document – payment deferment (only italian version)(46 KB)

Headquarters
Via dell'Unione Europea, nr. 3
San Donato Mil.se
Centralino +39 02 520.1

Contacts:

Commercial development (fax +39 02 520 45738)
+39 02 520 45743
+39 02 520 45735
+39 02 520 45733
Client management (fax +39 02 520 45738)
+39 02 520 45711
+39 02 520 45658
+39 02 520 45891
Contract management (fax +39 02 520 45739)
+39 02 520 45713
+39 02 520 45659
+39 02 520 45723
Information services (fax +39 02 520 45917)
+39 02 520 45671
Accounting and Treasury (fax +39 02 520 45706)
+39 02 520 45667
e-mail: serfactoring@serfactoring.eni.it

Italian Professional Associations

ASSIFACT - Associazione italiana per il factoring - www.assifact.it
Associazione Bancaria Italiana - www.abi.it
Associazione Italiana Financial Risk Management  - www.aifirm.com

Control Body

Autorità garante della concorrenza e del mercato  - www.agcm.it
Autorità garante per la protezione dei dati personali www.garanteprivacy.it
Banca d'Italia - www.bancaditalia.it
Commissione Nazionale per le Società e la Borsa - www.consob.it

International Bodies

Banca Centrale Europea - www.ecb.int
Bank of International Settlements - www.bis.org
International Accounting Standards Board - www.iasb.org.uk