International Factors Group (IFG) drafted a Model Law of Factoring in 2014. Afreximbanks Model Law herewith has taken IFGs excellent work which reduced the scope of any proposed legislation to cover only factoring transactions, in the widest of this word, including assignments of receivables as a pledge of collateral security where pledge is used as the legal basis for a factoring transaction. Afrexim gratefully acknowledges the excellent assistance that it has received from IFG in being permitted to develop IFGs Model Law.