ITFA has opened for its members access to an industry framework for open account distribution. The Master Account Receivables Assignment Agreement (MARA) template was developed by HSBC in collaboration with law firm Dentons in London in 2018, and has been in use – with positive market feedback – since then.
The move towards offering the template to a broader spectrum of market participants marks a significant step towards enhancing efficiency and consistency in the distribution of open account assets.
ITFA now encourages its banking members to adopt the agreement as an industry standard, endorsing it for both receivables finance and supply chain finance transactions.
