There have been significant updates to FASI’s operating rules, including some introduced at the beginning of 2024. Marie-Pascale Frix, FIDI Business Intelligence Manager, gives a need-to-know guide to the main changes
During the past two years, the operating rules for FASI have undergone major changes of which all FIDI Affiliates should be aware in order to adapt their bookkeeping and automate the reporting of the AR to the online FASI platform.
Here is a recap of the new rules:
1. The reporting window has been reduced to 75-105 days.
2. New exclusions* have been introduced, which are:
- Invoices with ‘set payment terms’ exceeding 105 days.
- Demurrage, detention and/or port storage charges exceeding a value of €1,000 or equivalent per customer file.
3. Extended scope: Invoices regarding domestic removal services can be reported if the FIDI Affiliate Booker and origin agent/destination agent are located in different countries (i.e. the transaction is international).
4. Reduced creditor cap at €100,000: This means that if you let one of your agent’s debts grow beyond €100,000, you are not fully protected by FASI.
5. Frequent Offender in FASI:
If your company (debtor) is listed seven times or more in a rolling year as a Frequent Offender, a monthly administration fee of €500 will be invoiced to your company.*
If you still appear as a Frequent Offender after 18 months, your company will be facing immediate membership termination.
6. Publication of the Frequent Offenders’ names on FIDINET.*
On reaching FASI Frequent Offender status, your company’s name may be published on FIDINET if it fulfils the requirements set out in the FASI Operating Rules 2023.
7. Termination threshold reduced from 240 days to 180 days.*
*These rules came into effect on 1 January 2024.
Not using FASI yet? For all queries, consult FIDINET or contact Marie-Pascale Frix, in charge of FASI, at: Marie-Pascale.Frix@fidi.org
