1.？ According to the fact that accounts receivable are transferred, the time to notify the debtor can be divided into explicit factoring and implicit factoring;
In the existing information, there was a saying: "China's contract law clearly stipulates that when a supplier transfers its own accounts receivable, it must be stipulated in the purchase and sale contract and the buyer must be informed. This also determines that the factoring business provided by factoring companies in China is explicit factoring. This statement is not accurate. Now the definition of implicit factoring in the industry is not not not to tell, but when to tell. The Summary of Judicial Committee of Tianjin Higher People's Court on Several Issues Concerning the Trial of Factoring Contract Disputes (I) clearly defines the concept of implicit factoring. In commercial practice, the drawer's agreement is widely used to authorize in advance and notify the creditor once triggered. This method avoids the compliance risk caused by failure to inform, and also meets the business needs of sellers who want to hide their poor financial situation.
2.？ According to the initiator, it can be divided into seller's factoring (forward factoring) and buyer's factoring (reverse factoring);
The seller is the holder (creditor) of accounts receivable, and the buyer (debtor) pays due. The business process is the same. The difference lies in the credit stage, which party the factoring business will evaluate. If the factoring business is initiated by the buyer, it must be an explicit factoring business initiated by the seller (the buyer will always know the fact of the transfer of accounts receivable), which can be either explicit factoring or implicit factoring.
3.？ According to whether the supplier bears the credit risk, it can be divided into recourse factoring and non-recourse factoring;
The right of recourse is aimed at the seller: in factoring with recourse, if the debtor (buyer) has credit risk, it will not be able to recover from the creditor (seller); If it is non-recourse factoring, the factor will continue to recover from the creditor (seller); During business hours, many buyers' factoring or industry insurance councils use non-recourse factoring, and the buyer bears the financing cost, with the purpose of making it easier for the seller to accept, promoting business landing and alleviating their own financial pressure.
4.？ According to whether trade is cross-border, it can be divided into domestic factoring and international factoring;
At least one of the creditors and debtors is factoring abroad (including bonded areas, free trade zones, domestic customs clearance, etc.). Due to the different legal environments of creditors and debtors, factors often need to be familiar with various relevant laws and regulations in the two places and bear the risk of collection and payment.
5.？ According to the company strategy, it can be divided into intra-industry factoring and social factoring;
Intra-industry factoring, that is, the credit voucher circulation system established by enterprises with themselves as the core through factoring business, pays (rather than commercial bills). Factoring is only an intermediate link, and the ultimate goal is to increase the control of upstream and downstream, better escort the production plan of core business, and earn a little interest difference by the way. There is a very special form in this model, that is, both upstream and downstream are internal enterprises of the group company. In this mode, enterprises have strong control over the supply chain.
Socialized factoring is more like enterprise credit in business form. Factors strictly investigate, review and rate credit subjects, but only nominally review trade links, so there is also a saying that "fake factoring is a real bank".
6.？ According to the financing opportunity, it can be divided into discount factoring and maturity factoring;
Mainly the concept of paying first and then paying.
Discount factoring refers to the fact that the factor immediately pays the discount to the seller in the form of advance payment after receiving the bills receivable, without waiting for the documents to expire, and the remaining funds and other goods are all delivered before liquidation, which is actually equivalent to the seller receiving part of the payment in advance.
Maturity bill discounting means that at the beginning of the period, the bill discounter will not pay the bills receivable to the seller until the documents expire, and all the money will be paid to the seller.
Whether it is paid first or later, it is actually seller's factoring (forward factoring), and the factoring company needs to bear the credit risk of the buyer's non-payment, so the industry generally chooses to have recourse at the same time.
7.？ According to the nature of factoring, it can be divided into bank factoring and commercial factoring.
From a practical point of view, in addition to the credit of the credit subject, bank factoring also adds a lot of guarantees and mortgages to reduce risks (avoid risks), while commercial factoring is relatively loose in collateral and guarantor.
The above is a summary of various factoring businesses. The essence of factoring is the lending business in the B-end supply chain, and the target is accounts receivable. Compared with traditional corporate credit and financial leasing, it is more flexible in operation and pays more attention to the authenticity of trading scenarios. Product managers can abstract business processes here:
Role analysis:
According to the business diagram, the factoring system should have the following roles:
Buyer: the buyer and debtor in the supply chain, and finally pay the accounts receivable;
Sellers: suppliers, creditors and accounts receivable holders in the supply chain.
Factor: an institution engaged in factoring business.
Banks: They can undertake factoring business, or sign framework agreements and financial agreements with factoring institutions as the providers of funds for the factors.
Platform side: Manage the roles and contents in the platform and provide technical services.
Role relationship:
N (buyer) +N (seller) +N (factor): In a perfect supply chain financial platform, a buyer can purchase from multiple sellers; A seller can also supply goods to multiple buyers; Both buyers and sellers can get financing from many factors, which is the most ideal state of supply chain finance.
However, it is difficult to realize in practice: because there are always buyers and sellers in a complete factoring business, once the counterparty changes, the factor needs to re-examine, which leads to inefficiency. Therefore, in practice, factors often strictly examine the promoters of factoring and give credit, while nominally examine their counterparties, that is, "the transaction elements are complete", which greatly improves business efficiency. This is commonly referred to as 1 (core enterprise) +N (counterparty)+1 (factor). At present, most domestic factoring is at this stage, which is also a typical form of intra-industry factoring.