The Factoring Act is document regulating factoring activities in the Republic of Croatia and Hanfa's competence with respect to its implementation. This act regulates terms and conditions for the establishment, business operations and dissolution of factoring companies, factoring agreements, rights and obligations of entities participating in factoring activities, reporting, supervision of factoring companies' business operations, risk management, and manner of and requirements for cross-border operations. The Factoring Act entered into force on 8 August 2014 with deadline of 12 months for alignment of legal persons carrying out factoring operations which have intention to make alignment with this Act.
Hanfa's principal objective as regards the factoring market is to ensure proper operation of factoring companies by verifying the legality and assessing the security and stability of business operations, for the purpose of protecting interests of factoring services recipients and the public interest, contributing to the stability of the financial system, and fostering and safeguarding the confidence in the factoring market. Within the framework of licensing procedure and pursuant to the Factoring Act, Hanfa grants and withdraws licenses, authorisations, and consents to factoring companies and authorised persons within factoring companies. In the course of on-site and off-site supervision, Hanfa seeks to determine whether factoring companies operate in compliance with legislation and subordinate legislation, in accordance with risk management regulations and other regulations, pursuant to their own rules and standards, and in accordance with rules of profession, in the manner which ensures orderly functioning of factoring companies.
This web page provides a link to a list of leasing and factoring companies authorised by Hanfa, along with operations carried out by those companies.