国际结算的Internationalfactoringppt课件.ppt

Chapter8 InternationalfactoringandInternationalforfaiting Internationalfactoring Internationalfactoringisthatfactorwillprovideaseriesoffinancialservicessuchas Maintenanceofsalesledger销售分户帐管理Collectionfromdebtors债款回收Creditcontrol信用销售控制Fullprotectionagainstbaddebts坏帐担保Tradefinancing贸易融资 Thus factoringisafullfinancialpackagethatcombinessettlement financing managingandguarantee O AandD A Openaccountisanarrangementbetweenthebuyerandthesellerwherebythegoodsaremanufacturedanddeliveredbeforepaymentiscalledfor Accountreceivablesarisesfromsalesoncredit Thesellerssellgoodsoncredit includingO AandD Atransactions andobtainaccountreceivablesfromthebuyerswhoareliableforpaymentofthoseaccountreceivablesattheendofeachspecificperiod Parties ExporterImporterExporterfactorImporterfactor Exporter Theexporterwhoinvoicesforthesupplyofgoodsortherenderingofservicesandwhoseaccountreceivablesarefactoredbytheexportfactor Importer Theimporter orbuyer ordebtorwhoisliableforpaymentoftheaccountreceivablesarisingfromthesupplyofgoodsorrenderingofservices Exporterfactor Theexporterfactorwhofactorstheseller saccountreceivablesunderanagreementtothateffect Importerfactor Theimporterfactorwhoagreestocollecttheaccountreceivablesinvoicedbythesellerandassignedtotheexportfactorandwhoinboundtopaysuchaccountsreceivablesassignedtohimforwhichhehasassumedthecreditrisk Singlefactoringandco factoring Domesticfactoringusuallyonlyinvolvesonefactorathomeandiscalledsinglefactoring whileinternationalfactoringinvolvestwofactors oneathomeandtheotherabroad andiscalledco factoring Exporter Importerfactor Importer singlefactoring co factoring Exporterbank Exporter Importer Importerfactor 1contract 2appliesforthefactoring 3signagreementoffactoring 4entrusttoinvestigatethebuyer scredit 5investigatethebuyer scredit 6notifythelineofbuy scredit 7consignment documentsandinvoice 8deliverthecopyofinvoice 9Collection 10payment 11paymentafterdeductingrate 12payment 8 financing about80 oftheinvoicevalue functions 1 Exportertradefinancefortheexportertomakeadvancepaymentorimmediatepaymenttohimforthepurchaseofhisreceivables functions 2 Maintenanceofexporter ssalesledgerwhentheinvoiceswerepresentedbyhimtothefactor functions 3 Collectionbythefactoroftheexporter sreceivables 4 Protectionagainstthedefaultinpaymentbythedebtor Meritstoexporter 1 Itgivesfullsecurityforthereceiptoftheaccountreceivableswithintheapprovedcreditline 2 thematurityofreceivablewillbefixed paymentofitwillnotbepostponed 3 Itfacilitatestheexportertoobtainexporttradefinance 4 Itreducestherisksfromthemodeofcollection 5 Itprovidesanexporterwithmulti currencyservice 6 Itavoidscustomer srisksofforeignfluctuation 7 Thefactorcouldinquireinformationconcerningexporter sorimporter scapitalandcreditstanding 1 Infavorofturnoverofcapital2 Reducethecost 3 Avoidtherisksofgoods Meritstoimporter Thedisadvantagetofactor Thefactorbearsmorerisks Thechargeofinternationalfactoringiscomparativelyhigh Internationalforfaiting Forfaitingis aformofdebtdiscountingforexportersinwhichaforfaiteracceptsatadiscountandwithoutrecoursepromissorynotes billsofexchange orlettersofcreditreceivedfromaforeignbuyerbyanexporter Maturitiesarenormallyfromonetothreeyears Thus theexporterreceivespaymentwithoutriskatthecostofthediscount Inotherwords forfaitingisapaymenttechniqueanexportercanusetopromotesalesonadeterredpaymentbasis Thepaymentobligationisusuallyevidencedbyaseriesofguaranteeddraftsornotes fallingdueatdifferentfuturedates andbypurchasingthedebtsfromtheexporter theforfaiterdeductstheinterestsandotherfeesbutwithoutrecoursetothebuyerintheeventofdishonour Thecharacteristic Commonlydealwiththetradesofcapitalgoodsorlargeitemsoftrade Theexportermustgiveupallrightsofdebts andtheforfaitermustgiveuptherightofrecourse Theterm 180days 1 5years 10yearsThesum 100Theexportermustbeartheobligationaboutthegoods Partiestoaforfaiting ForfaiterAforfaiterisusuallyabigbankorabigfinancecompanywiththeabilitytoprovidemediumtolongtermcreditsintheexporter scountry Thepurchaseisbasedonthecreditworthinessoftheimporterandtheguarantorbank bona fideholdernorightofrecourse ExporterItisthesellerunderthesalescontract Whentheexporterextendscredittotheimporter i e thegoodsarepaidonadeferredbasis theexportermayapplyforthefinancefromaforfaiter Uponpurchasebytheforfaiter theexportermayobtainthenetproceedsinadvanceafterdeductingtheinterestandcommissions ImporterItisthebuyerunderthesalescontract thepayerofthedebtinstrumentsthattheexporterandtheimporterhaveagreedtousetoevidencethedebts Whentheinstrumentsmature theimporterisobligedtomakepaymentstotheholder GuarantorItisaninternationallyrecognizedprimebankintheimporter scountry Usually iftheimporterisfromadevelopingcountry mostforfaitersrequirethataguarantorbankbeastatebank Inthisway eveniftheforfaiterhasnorightofrecoursetotheexporter withtheguaranteeofaprimebank theforfaiterwillassurethepaymentofthedebtinstrumentstoagreaterextent Costsofforfaitingfinance Discountrate贴现率fixedandfloatingraterateofdeferringpayment延付率Commitmentfee承担费Gracedays多收期 exporter importer ExporterBank Importerbank Forfaiter 1 13 12 11 8 9 10 4 3 5 6 2 7 15 14 1 consultation 2