First of all, the essence of the two is different:
1. The essence of factoring companies: financial institutions providing factoring services.
2. The essence of the guarantee company: the institution or qualified individual providing the guarantee.
Second, their business scope is different:
1. Business scope of factoring company: Factoring business is a comprehensive financial service integrating trade financing, business credit investigation, accounts receivable management and credit risk taking.
2. The business scope of the guarantee company: providing economic contracts such as loans and financial leasing for small and medium-sized enterprises; Personal consumption loan guarantee, personal commercial loan guarantee, automobile consumption credit guarantee, project investment, financing management, etc.
Third, the matters needing attention are different:
1. Precautions for factoring companies:
(1) The buyer (importer) must have a good reputation or credit, and let the import factor verify a certain credit limit for it, otherwise it will not be accepted.
(2) Before continuing the factoring business, and before signing the export contract formally, we should do a lot of work such as application, credit evaluation and credit line verification.
(3) Only after the export factor and the exporter have agreed to handle the factoring business, that is, the export factor has approved the credit line for the importer, can the foreign trade contract be formally signed or the goods be shipped.
(4) Pay attention to the usage of the importer's credit line (balance status) and the changes of its credit status. Always keep effective communication with export agents.
2. Matters needing attention of the guarantee company:
(1) Check whether the loan is used according to the purpose, whether there is misappropriation or loan purpose.
(2) Check whether there is inventory backlog and the recovery of accounts receivable.
(3) Implement the source of repayment funds for enterprises.
(four) to correct the outstanding problems in the operation of enterprises and all unfavorable factors affecting the safety of loans, and urge enterprises to improve.
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