How much do you know about trade financing? The following is the information I collected about trade financing guarantee and risk control. Welcome to read and study.
Overview of trade financing guarantee
When banks provide trade financing to enterprises, they generally need enterprises to pay deposit and provide mortgage, pledge and guarantee. The demand for trade financing guarantee generally appears when the relationship between enterprises and banks is relatively new, the credit line is insufficient, or the mortgage or pledge recognized by banks cannot be provided.
At present, domestic enterprises adopt the following trade financing methods:
1, import credit line guarantee
When importing, the enterprise applies to the bank to open a letter of credit, which is a bank payment voucher provided to foreign sellers. Once issued, the bank assumes the responsibility of paying the foreign seller. If the enterprise fails to pay the payment after the goods arrive, the bank needs to pay the payment on its behalf. Therefore, banks will only open letters of credit if they can guarantee repayment from importing enterprises. Under normal circumstances, banks require enterprises to pay a deposit (more than 65,438+00% of the issued amount) to provide mortgage and pledge. In order to further reduce risks, they also require enterprises to provide third-party credit guarantee.
2, letter of credit package loan guarantee
In order to solve the problem of shortage of production funds when exporting, enterprises apply for shortage loans from banks with the letter of credit received from foreign buyers as collateral. The enterprise will use the loan funds for production, stocking and export, submit documents to the bank, and the bank will negotiate and deduct the loan from the negotiated loan. In order to control risks, banks usually only provide 40% of the amount of the letter of credit? Package 80% of the loan, and the enterprise needs to provide mortgage, pledge and guarantee.
3. Guarantee by acceptance bill
Enterprises engaged in domestic trade to buy goods, apply to the bank to open an acceptance bill (the longest period of acceptance bill is 6 months). This kind of acceptance bill serves as a bank payment voucher provided to the seller, and the seller can discount the acceptance bill or accept it at maturity to obtain a loan. When the acceptance bill expires, the enterprise must pay the bank. If the enterprise is unable to pay, the bank will pay for it. Therefore, similar to the import letter of credit, the bank should ensure the solvency of the enterprise, and at the same time require the enterprise to pay a deposit (65438+ 00% of the amount of the acceptance bill? 50%), providing mortgage, pledge or guarantee.
4. Other types of trade financing guarantees
1) accounts receivable financing guarantee. Enterprises pledge accounts receivable, which are guaranteed by guarantee institutions or directly apply to banks for financing to pay trade contract loans.
2) warehouse receipt or inventory goods pledge financing guarantee. Enterprises take warehouse receipts or goods in stock as pledges, which are guaranteed by guarantee institutions or directly apply to banks for financing to pay trade contract loans.
2. Factors to be considered in trade financing guarantee
1, import letter of credit guarantee
Introduce the business background, credit status and personnel quality of the enterprise.
Authenticity of import contracts, market conditions and price fluctuations of imported commodities.
Conditions of goods supervision.
Sales return.
Import license issues, etc.
2, export letter of credit package loan guarantee
The export business background, reputation and personnel quality of the enterprise.
The authenticity of export contracts and letters of credit, the business background and credit status of foreign buyers, and the credit status of foreign issuing banks.
Market conditions and price fluctuations of export commodities.
Conditions of supply, production, transportation and storage of raw materials for export commodities.
Conditions of goods supervision.
Export license issues, etc.
3. Guarantee by acceptance bill
Business background, reputation and personnel quality of the enterprise.
Authenticity of trade contracts, market conditions of commodities and price fluctuations.
Conditions of goods supervision.
Sales return.
4. Other trade financing guarantees
1) accounts receivable financing guarantee.
Business background, reputation and personnel quality of the enterprise.
The term of accounts receivable and sales performance.
Company accounts and business records.
2) Warehouse receipt or pledge guarantee for the goods in stock.
Business background, reputation and personnel quality of the enterprise.
The real validity of the warehouse, the market situation of the goods, and the price fluctuation.
Conditions of goods supervision.
Sales and payment.
How to control trade financing? Collateral Risk? Warehouse financing is essentially a kind of financing with goods or goods ownership certificates as collateral or mortgage. It is short-term financing provided by banks with commodities or raw materials held by production enterprises or traders as collateral or pledge. Therefore, warehousing financing requires banks to have higher risk monitoring ability and higher operational skills.
It is very important for financing banks to manage and control collateral. If the financing enterprise (producer or trader) cannot repay the loan within the loan period, the bank will auction or sell the pledged and mortgaged goods in the market. Collateral ) to compensate the loan principal and interest.
The risk of warehouse receipt financing mode mainly includes three aspects: the real right risk of collateral, the regulatory risk of collateral and the market risk of collateral.
(1) Property right risk of collateral
The property right risk of collateral is firstly the legal risk of collateral. For example, in the process of warehouse receipt pledge financing, the financing enterprise should first confirm that no other security right can be attached to the collateral to ensure that the financing enterprise has complete control over the financing goods.
In the past cases of financing trade disputes, especially steel trade disputes, there were a lot of repeated pledges of warehouse receipts, which also became the difficulty in handling related cases. The fundamental reason for this problem is that, under normal circumstances, the collateral used to set the pledge should be goods with clear ownership and uncontroversial ownership; It is difficult to specify goods, which makes it possible for financing enterprises to collude with warehousing and logistics enterprises to issue warehouse receipts or other property rights certificates far exceeding the actual quantity for the same batch of goods, and pledge financing to different banks or enterprises respectively. However, when the obligee (financial institution or enterprise providing financing) accepts the guarantee, it is difficult to count and specify the pledge. Once the financing enterprise has capital risk, there will be multiple obligees who claim their rights with legal and effective cargo ownership certificates.
(2) Regulatory risk of collateral
In the model framework of warehouse receipt pledge supervision, the control of pledged goods is the core of risk control. The financing bank must be responsible for all kinds of losses in the custody of the pledged property, so it should consider all kinds of potential risks, including whether the facilities that guarantee the pledged property can effectively prevent damage, destruction, deterioration and natural safety. Because banks generally do not have the ability to supervise physical objects, they need to choose professional third-party logistics warehousing companies to cooperate and outsource the management of pledged inventory to these professional companies, that is, pledge managers. After accepting the entrustment of the bank, the logistics warehousing company has the right to manage the inventory, issue a warehouse receipt to the bank, confirm that the ownership of the goods belongs to the bank, and promise to ensure the integrity and safety of the pledge, and strictly follow the instructions of the bank. The management risks of collateral include credit risk, credit risk of financing customers and operational risk of banks. In warehousing pledge business, banks should first investigate the credit and basic situation of financing enterprises. The biggest operational risk of banks is moral hazard, that is, the risks brought by bank staff, warehouse supervisors and financing customers, such as collusion between bank staff and financing customers, warehouse supervisors stealing from themselves, and forced withdrawal of financing customers. These risks need strict supervision system and mutual supervision and restriction of all links to control. The third-party logistics warehouse supervisor needs to ensure that the quality is not reduced or lost. In order to better complete the supervision task, financing banks require third-party logistics supervision companies to establish strict supervision systems and form a multi-level supervision system.
The supervision system should be a network structure, mutual supervision and mutual prevention, so as to effectively prevent the risks caused by staff's moral negligence. At the same time, the third-party logistics warehousing company should conduct relevant training and assessment on professional ethics, professional knowledge, laws and regulations for its staff. At the same time, logistics warehousing companies can also take a series of high-tech measures to strengthen supervision, such as setting up internet monitoring, so that the relevant staff of financing banks can log in to the network at any time to inquire about the storage of goods in the warehouse, and can also install an electronic eye monitoring system in the warehouse, so that managers at all levels in the warehouse can monitor the state of goods in the warehouse in real time. In the specific operation, the bank will evaluate these third-party logistics warehousing companies, and select a professional logistics warehousing company with considerable strength and management level to undertake the supervision responsibility of the pledge.
(3) Market risk of collateral
Because warehousing financing takes the goods themselves as collateral, banks will face market risks such as marketability risk and price risk of pledged goods. The first thing of warehousing financing is to select the pledge and fully grasp the liquidity of the pledge. There should be some restrictions on the types of substances. Generally, varieties with wide application, easy disposal, strong fluidity and stable quality are selected, such as ferrous metals, non-ferrous metals and strategic reserve materials related to the national economy and people's livelihood. The bulk commodities financed in warehousing financing usually include crude oil, fuel oil, chemical products downstream of fertilizer, upstream and downstream products of coal and steel industry, upstream and downstream products of non-ferrous metals, agricultural products (such as soybeans, corn and cotton) and edible oil. Banks generally do not accept bulk commodities with poor liquidity, uncertain market prospects, narrow sales channels, low transparency of market prices and irregular quality management standards for warehousing and financing. One of the most important market risks of pledge is price risk. If the financing enterprise (manufacturer or trader) cannot repay the loan within the loan period, the bank will auction the pledge in the market to compensate the loan principal and interest. If the price of the pledge falls, the value of the pledge may not make up for the loss of the loan. For the price risk of pledge, banks mainly control it by collecting margin, setting financing ratio and setting the warning line of pledge price. At the same time, the financing bank requires the borrower to handle other corresponding insurance such as warehousing or transportation for the pledged property.
Banks need to monitor whether the quality is sufficient in the whole process of warehousing financing. In specific operations, banks can take a comprehensive analysis of inventory and price trends and build an information consulting platform with the help of the Internet. The value of the pledge is mainly determined by the market price, and the value of the goods needs to be determined by referring to the futures market quotation and spot transaction fare. When the banking system shows that the value of the pledge falls below the approved warning line due to the sharp drop in the pledge price, the bank will notify the financing enterprise to add a margin to ensure that the value of the pledge reaches the set financing ratio. From the above analysis, we can see that the risks of warehousing financing are various, including internal management risks, operational risks, technical operational risks, market risks, security risks, legal risks and enterprise credit risks. Based on the above aspects, banks should establish relevant risk aversion structures. Warehouse financing is more complicated than simple enterprise working capital loan, and it needs to know the comprehensive information of customer's capital flow, logistics and the whole production and trade process. However, as long as strict and scientific risk assessment methods, management systems and standardized operating procedures are established, risks can be reasonably controlled.
;