CZECH LEASING AND FINANCE ASSOCIATION

AIMS AND OBJECTIVES OF THE CZECH LEASING AND FINANCE ASSOCIATION

The Czech Leasing and Finance Association was founded on 29^th September 1992. It succeeded a predecessor which had been operating since the second half of 1991 in former Czechoslovakia. Its aim is to create economic, legal and other conditions which will enhance financial and operational leasing, non-banking consumer credit and/or instalment sales as well as factoring and realize potential of those financial products in the Czech economy. It assists in resolving problems arising from domestic leasing and coordinates and promotes the interests of its members.

In pursuit of these aims, the Association negotiates with governmental and non-governmental bodies. It familiarises domestic entrepreneurs and the wider public with the principles of financial and operational leasing, factoring as well as those of products for financing consumer goods, their advantages and requirements. The Association collects, processes and disseminates information about leasing, consumer credit and factoring. It organizes exchanges of views and information as well as in-depth analyses of topical questions related to domestic leasing. In doing so, it makes use above all of the capacities of its expert committees and working groups. It also conducts activities and events aimed at widening the experience of the staff of member companies. The Association also arranges contacts with foreign providers of non-banking financial products. It is an active member of both the Federation of European Leasing Associations (LEASEUROPE), the European Federation of Finance Houses Associations (EUROFINAS) and the EU Federation of Factoring (EUF) and participates in governing and expert bodies of those organizations. It has established useful contacts with certain national leasing associations and other bodies abroad. In October 1996, the Association hosted the annual conference of LEASEUROPE and in 2009, the annual conference of LEASEUROPE/EUROFINAS in Prague.

In compliance with its statutes, the Associations accepts as members leasing companies, banks and other entities registered in the Czech Republic under Czech law, which have proved to be committed and professional in their leasing, consumer credit and instalment sales as well as factoring operations and which respect the legal regulations.