FCI Best Deal of the Year 2023 | FCI
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FCI Best Deal of the Year 2023
FCI Best Deal of the Year 2023
FCI Best Deal of the Year Award

For the second year, FCI organised the Best Deal of the Year Award. FCI Members were asked to submit their best deals completed via the FCI Edifactoring platform, six submissions were then selected by the FCI Marketing Committee and were presented during the Roundtable Discussions at the 55th Annual Meeting by the company members. The FCI Council voted for the best Deal of the Year. During the FCI Award Dinner on Wednesday 20 September 2023, the winners and runners-up were announced.

Below are the winners and runners-up for this category.

1st Place: Santander Factoring, Poland - BNP Paribas Factor, France

2nd Place: Taishin International Bank, Taiwan - Mizuho Factors, Japan
3rd Place: India Factoring and Finance Solutions - BNP Paribas Factor, France

About the Winning Deal

Export Factor: Santander Factoring, Poland 
Import Factor: BNP Paribas Factor, France

A challenging case with the humanitarian aid aspect in the background and extraordinary operational risk involved. The Factors found a way to manage the risk related to the trade and embed this complex operation under the two-factor framework. 

Explanation of the deal

Seller: a company established in Poland in 2005 producer of poultry, pork and beef elements and exports its products to over 100 countries around the world. 

Buyer: non-profit organization, Italian branch of the world’s largest humanitarian organization, related to the United Nations. The trade relates to the canned food (meat and non-meat products) delivered to the buyer in the territory of Ukraine with humanitarian aid.

Why is this deal unique?

  1. Single-risk transaction. Relatively short commercial relationship – limited payment track record. 

  2. Shipment provided out of the buyer’s country, to Ukraine within the humanitarian aid. 

  3. Delivery destinations are located in the territory of heavy warfare – very high operational risk. 

  4. Both Factors had to get internal approval from their Compliance units to deliver the case. 

  5. The operational risk aspects were under a thorough analysis of both Factors.

  6. The findings of the study of the available documentation concerning the FM. 

  7. The buyer’s operational model of its relationship with suppliers significantly mitigates the risk of trade disputes. 

>> Learn more about the 2023 runner-up deals and the winning deals from 2022 by clicking here.

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Discover more

  • Learn more about Factoring and how it can help your business by enrolling in an on-demand course today through the FCI Academy. Click here to find a course that is right for you.
  • See who will win in 2024 by attending the 56th Annual Meeting in Seoul on 9-13 June 2024. Click here to find out more.
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