國際結(jié)算的Internationalfactoring

1、整理課件Chapter 8International factoringand International forfaiting整理課件International factoringvInternational factoring is that factor will provide a series of financial services such as: Maintenance of sales ledger銷售分戶帳管理 Collection from debtors債款回收 Credit control信用銷售控制 Full protection against bad debt

2、s壞帳擔(dān)保 Trade financing貿(mào)易融資整理課件vThus，factoring is a full financial package that combines settlement, financing, managing and guarantee.整理課件O/A and D/AvOpen account is an arrangement between the buyer and the seller whereby the goods are manufactured and delivered before payment is called for.整理課件vAcco

3、unt receivables arises from sales on credit.The sellers sell goods on credit (including O/A and D/A transactions) and obtain account receivables from the buyers who are liable for payment of those account receivables at the end of each specific period.整理課件PartiesvExporter vImportervExporter factorvI

4、mporter factor整理課件ExportervThe exporter who invoices for the supply of goods or the rendering of services and whose account receivables are factored by the export factor.整理課件ImportervThe importer,or buyer,or debtor who is liable for payment of the account receivables arising from the supply of goods

5、 or rendering of services.整理課件Exporter factorvThe exporter factor who factors the sellers account receivables under an agreement to that effect.整理課件Importer factorvThe importer factor who agrees to collect the account receivables invoiced by the seller and assigned to the export factor and who in bo

6、und to pay such accounts receivables assigned to him for which he has assumed the credit risk.整理課件Single factoring and co- factoringvDomestic factoring usually only involves one factor at home and is called single factoring，while international factoring involves two factors，one at home and the other

7、 abroad，and is called co-factoring.整理課件ExporterImporter factorImporterExporter factorExporterImporterImporter factorsingle factoringco-factoring整理課件Exporter bankExporterImporterImporter factor1 contract 2 applies for the factoring3 sign agreement of factoring4 entrust to investigate the buyers credi

8、t5 investigate the buyers credit6 notify the line of buys credit7 consignment documents and invoice 8 deliver the copy of invoice9 Collection10 payment11 payment after deducting rate12 payment8 financing ,about 80% of the invoice value整理課件functionsv1.Exporter trade finance for the exporter to make a

9、dvance payment or immediate payment to him for the purchase of his receivables.整理課件functionsv2.Maintenance of exporters sales ledger when the invoices were presented by him to the factor.整理課件functionsv3.Collection by the factor of the exporters receivables. v4.Protection against the default in payme

10、nt by the debtor.整理課件Merits to exporterv1.It gives full security for the receipt of the account receivables within the approved credit line .v2.the maturity of receivable will be fixed ,payment of it will not be postponed.整理課件v3.It facilitates the exporter to obtain export trade finance .v4. It redu

11、ces the risks from the mode of collection.v5. It provides an exporter with multi-currency service.整理課件v6.It avoids customers risks of foreign fluctuation.v7.The factor could inquire information concerning exporters or importers capital and credit standing .整理課件v1 . In favor of turnover of capitalv2

12、. Reduce the cost.v3 . Avoid the risks of goods.Merits to importer整理課件The disadvantage to factorvThe factor bears more risks.vThe charge of international factoring is comparatively high.整理課件International forfaitingvForfaiting is “a form of debt discounting for exporters in which a forfaiter accepts

13、at a discount and without recourse promissory notes， bills of exchange，or letters of credit received from a foreign buyer by an exporter. Maturities are normally from one to three years. Thus，the exporter receives payment without risk at the cost of the discount.整理課件vIn other words，forfaiting is a p

14、ayment technique an exporter can use to promote sales on a deterred payment basis. The payment obligation is usually evidenced by a series of guaranteed drafts or notes，falling due at different future dates， and by purchasing the debts from the exporter，the forfaiter deducts the interests and other

15、fees but without recourse to the buyer in the event of dishonour. 整理課件The characteristicvCommonly deal with the trades of capital goods or large items of trade.vThe exporter must give up all rights of debts, and the forfaiter must give up the right of recourse.vThe term:180days,1-5 years , 10yearsvT

16、he sum:100vThe exporter must bear the obligation about the goods.整理課件 Parties to a forfaitingvForfaiter A forfaiter is usually a big bank or a big finance company with the ability to provide medium to long term credits in the exporters country. The purchase is based on the creditworthiness of the im

17、porter and the guarantor bank. bona-fide holder no right of recourse. 整理課件vExporter It is the seller under the sales contract. When the exporter extends credit to the importer，i.e.，the goods are paid on a deferred basis，the exporter may apply for the finance from a forfaiter. Upon purchase by the fo

18、rfaiter，the exporter may obtain the net proceeds in advance after deducting the interest and commissions.整理課件vImporter It is the buyer under the sales contract，the payer of the debt instruments that the exporter and the importer have agreed to use to evidence the debts. When the instruments mature，t

19、he importer is obliged to make payments to the holder.整理課件vGuarantor It is an internationally recognized prime bank in the importers country. Usually，if the importer is from a developing country，most forfaiters require that a guarantor bank be a state bank. In this way，even if the forfaiter has no right of recourse to the exporter，with the guarante