RECECO Credit risk cover

TBG5 Finance

Factoring companies provide their clients (the seller) protection against the risk of credit losses on sales to the buyers. Credit protection is provided on each approved customer (buyer) of the seller.

The message will be used to apply for preliminary credit assessment (used during negotiation with prospective clients); apply for credit protection; reply to credit requests; revise amount and expiry date of credit protection and terms; cancel credit protection.

The message will serve at the same time as the request for credit risk cover and as the answer (approval or rejection to that request).

Header

1. 0010 · UNH · Message header · Max 1 · Mandatory

   To head, identify and specify a message.

   1. Data element S009/0057 is retained for upward compatibility. The use of
   S016 and/or S017 is encouraged in preference.
   2. The combination of the values carried in data elements 0062 and S009 shall
   be used to identify uniquely the message within its group (if used) or if
   not used, within its interchange, for the purpose of acknowledgement.

2. 0020 · BGM · Beginning of message · Max 1 · Mandatory

   To indicate the type and function of a message and to transmit the identifying number.

3. 0030 · RFF · Reference · Max 9 · Conditional

   To specify a reference.

4. 0040 · DTM · Date/time/period · Max 9 · Conditional

   To specify date, and/or time, or period.

5. Segment group 1 Repeat 99

   1. 0060 · NAD · Name and address · Max 1 · Mandatory

      To specify the name/address and their related function, either by C082 only and/or unstructured by C058 or structured by C080 thru 3207.

   2. 0070 · CTA · Contact information · Max 1 · Conditional

      To identify a person or a department to whom communication should be directed.

   3. 0080 · COM · Communication contact · Max 5 · Conditional

      To identify a communication number of a department or a person to whom communication should be directed.

   4. 0090 · FII · Financial institution information · Max 1 · Conditional

      To identify an account and a related financial institution.

6. Segment group 2 Repeat 99

   1. 0110 · DOC · Document/message details · Max 1 · Mandatory

      To identify documents and details directly related to it.

   2. 0120 · MOA · Monetary amount · Max 1 · Conditional

      To specify a monetary amount.

   3. 0130 · CUX · Currencies · Max 1 · Conditional

      To specify currencies used in the transaction and relevant details for the rate of exchange.

   4. 0140 · DTM · Date/time/period · Max 5 · Conditional

      To specify date, and/or time, or period.

   5. 0150 · CCD · Credit cover details · Max 1 · Conditional

      To request a credit cover, reply to that request and disclose the reason for the reply.

   6. 0160 · PCD · Percentage details · Max 1 · Conditional

      To specify percentage information.

   7. 0170 · PYT · Payment terms · Max 1 · Conditional

      To specify the terms of payment.

   8. 0180 · FTX · Free text · Max 1 · Conditional

      To provide free form or coded text information.

   9. 0190 · RFF · Reference · Max 1 · Conditional

      To specify a reference.

7. 0200 · UNT · Message trailer · Max 1 · Mandatory

   To end and check the completeness of a message.

   1. 0062, the value shall be identical to the value in 0062 in the
   corresponding UNH segment.