China: 保理业务系列文章(二):保理业务的操作实务及风险防控

Last Updated: 3 May 2019
Article by Sheng Zhong and Xinru Zhou
Most Read Contributor in China, July 2019

本文为系列文章的第二篇,笔者将以银行保理融资业务为例(不同类型的保理业务办理流程略有不同),向读者阐述保理业务办理的规范化流程,并结合笔者执业经验,为读者总结保理业务的风险及审查要点。

一、保理业务的操作实务(以银行保理融资业务为例)

(一)业务受理

银行经营机构受理卖方或买方的保理业务申请,如涉及卖方或买方保理额度的申请,则收集客户相关资料后对客户和交易等相关情况进行有效的尽职调査、业务准入分析和风险审查,并按照相关规定完成授信调查及风险报告。

根据买卖双方之间的交易情况设计合理的保理业务方案,作为授信审批的参考依据。

上述资料收集完备后,向评审部门通道上报授信审批申请。

(二)额度及业务审批

评审部门完成额度及业务审批后,经营机构以此进行授信条件落实与额度启用工作。经营机构与卖方或买方签订保理相关业务合同,并确保合同与业务方案设定的相关事项一致。

(三)应收账款转让

  1. 开立保理回款账户。保理合同签订后,经营机构根据业务类型开立相关保理回款账户。
  2. 录入相关信息。经营机构收集业务资料,并在应收账款(保理)系统内,录入买卖双方的客户及相关业务信息。
  3. 办理应收账款转让手续。银行经营机构根据约定的应收账款转让方式,办理应收账款转让、通知和登记(银作为卖方保理商时)事项。

(四)融资发放

银行经营机构收到客户或合作保理商提交的保理融资申请时,应确认应收账款转让手续特别是通知送达工作已完成,人民银行系统查询工作已落实,业务单据已齐全,包括发票查验在内的贸易背景真实性已核查,相关授信条件已落实,融资金额未超过保理融资额度可用额[1]。待完成单据审核及合同完备性、授信条件落实有效性等放款审核程序,由经营机构完成保理融资款的发放。

(五)回款管理

经营机构办理保理授信业务时,原则上应要求直接回款。对于间接回款情形的,可视间接回款的合理性,并结合买卖双方的信用状况及其交易情况,综合考虑授信风险并设定风控增信措施后(包括采取抵/质押等风险缓释措施等),酌情予以处理。[2]经营机构应指定专人监控保理回款账户资金进出情况,确保融资本息安全。

间接回款的保理业务,经营机构应高度关注卖方保理融资业务的回款方式,核査每笔应收账款的回款情况,收集保理回款账户的对账单、买方回款凭证、他行对账单等证实回款方式的业务凭证,确认是否出现异常间接回款。若出现异常间接回款,应及时进行风险提示和预警,并立即要求卖方将相关款项全部转付至保理回款账户。

(六)对账

在保理合同有效期内,经营机构应打印保理业务对账清单发送卖方/买方,保证双方应收账款及保理融资账项核对一致。对存在间接回款或回款期限明显长于行业正常水平的,应从审慎角度提高对账频度,必要时应上门核对。

(七)应收账款逾期与催收

应收账款到期买方未按时付款,经营机构应向卖方发出《逾期账款提示函》;在对应保理融资到期前,经营机构可采用电话电子邮件、传真、寄送《逾期账款提示函》等方式向买方催收要求买方尽快付款。

(八)保理融资逾期

保理融资到期,若买方仍未付款,对于不同业务品种,分别按以下原则处理:

  1. 有追索权保理业务,经营机构可直接从卖方账户扣收款项,清偿保理融资本息;如卖方账户余额不足导致融资本息未能清偿,经营机构可采取包括法律手段在内的各种方式同时向卖方和买方进行催收。
  2. 无追索权保理业务,经营机构可采取包括法律手段在内的各种方式向买方进行催收。

(九)第三方担保付款

1.买方保理商担保付款

双保理业务中,由买方保理商承担买方信用风险的,如买方未能在应收账款到期日足额付款,买方保理商应按与卖方保理商的协议约定履行担保赔付责任,向卖方保理商支付买方未支付部分款项。

2.保险公司赔款

信保保理业务中,如果买方未能在应收账款到期日足额付款,卖方应及时向保险公司提出索赔或者由作为第一受益人的卖方保理商直接向保险公司提出索赔。

(十)卖方保理商担保付款

无追索权保理业务中,卖方保理商向卖方提供买方信用风险担保服务的,如因信用风险买方未能在应收账款到期日足额付款(双保理项下未能按时收到买方保理商的担保付款),卖方保理商应于应收账款到期日后的约定期限内,在信用风险担保额度内向卖方担保付款。双保理业务中,买方保理商向卖方保理商提供信用风险担保服务的,买方保理商应在应收账款到期后的约定期限内向卖方保理商担保付款。

(十一)应收账款的反转让

对保理业务发生以下情况且应收账款有余额的,一些保理协议也会做出将应收账款反转让给原债权人的约定:

  1. 应收账款发生商业纠纷且认定为卖方责任的;
  2. 卖方或卖方保理商未按照协议约定在规定时间内解决商业纠纷的;
  3. 确认存在欺诈的;
  4. 其他约定的反转让条件发生时。

二、保理业务的风险及防控措施

(一)主要风险点

国内保理业务目前主要是银行针对赊销方式销售货物(或提供服务)、应收帐款占用资金量较大的交易设计的一项综合性金融服务。保理业务风险主要来源于基础交易的不确定性,包括商品(服务)提供的连续性、质量的不确定和购买方支付的不确定等。开展一项正常业务所要面临的风险,保理业务都要面对,既有自然灾害、政策不确定性、市场不确定性、社会信用机制缺失等外部原因,也有信息传递不畅、经营业绩下滑、内控制度不完善、利益分配失衡等内部原因。其中,以下几个风险点需要格外重视:

1.基础交易真实性及应收账款质量风险

真实存在合法、有效的基础交易是保理业务开展的基础。如果基础交易发生争议,存在瑕疵,引发应收账款质量缺陷,那么银行收回保理融资的担保效果将大打折扣,风险就会上升。实际上,一些市场主体因为自身经营业绩不佳,也不能提供充足担保措施,无法从金融机构融资,因此铤而走险,通过编造、伪造、变造基础合同、发票、企业财务报表,非法骗取银行办理保理融资业务,骗取银行资金。

2.买卖双方的信用风险

和传统信贷业务类似,在提供融资服务的保理业务中,交易双方的信用风险永远是保理商不能忽视的。卖方保理商受让应收账款后,买方能否依约按期履行还款义务,直接决定卖方保理商的融资能否顺利收回。特别是在无追索权的卖方保理业务中,买方经营业绩、信用情况是卖方保理商风险控制的压舱石。此外,在有追索权保理中或者在保理合同约定的特定条件下,卖方作为第二还款责任人,其信用风险也不能忽视。

3.应收账款转让的法律风险

目前,国内尚没有专门就保理业务立法,其主要法律依据是《合同法》关于债权转让的规定。

按照《合同法》第七十九条的规定,债权人可以将合同的权利全部或者部分转让给第三人,但有下列情形之一的除外:(1)根据合同性质不得转让;(2)按照当事人约定不得转让;(3)依照法律规定不得转让。因此,在进行应收账款转让前必须确保应收账款真实存在,且不存在不得转让的情形。

《合同法》第八十条规定,债权人转让债权的,应当通知债务人。未经通知,该转让对债务人不发生效力。因此,开展保理业务过程中,卖方保理商受让债权后,应当通知买方,如果通知程序缺失,将可能为买方后续抗辩提供理由。

办理应收账款转让业务,可以在人民银行征信中心设立的中登网进行登记。但登记并不是应收账款转让的的生效条件,仅具有对外宣示效应,没有公示带来的优先排他效力。因此,实践中应收账款多次转让反复融资的风险时有发生。[3]

(二)防控措施

应收账款真实存在,债权行使无障碍,债权转让无瑕疵,债务人具备偿还能力,是应收账款审查的标准。

1.审查买卖双方

通过现场及非现场手段,调查卖方和买方的资信、经营及财务状况、所处行业状况及行业交易惯例、双方合作关系及与交易相关的情况。同时判断债务人的付款意愿、付款能力以及债权人的回购能力。对因提供服务等非销售产品所产生的应收账款,或者关联企业之间的应收账款,应当严格把握审查标准,深入了解买卖双方既往合作情况、未来合作的持续性等信息,准确核实交易真实性和定价的合理性。

2.审查保理融资的应收账款

审查应收账款基础材料,包括交易合同(包括对付款方式、付款条件、付款时间、质量保证、是否禁止转让、抵销、解除、违约责任等条款的审查)、发票、货运证明(包括货单、仓单、入库单、验货单、质检证明、预付款证明等)、完税证明以及其他表明确有货物买卖或服务消费的材料。防止买卖双方通过虚开发票、伪造交易合同、物流合同、回款流水等手段恶意骗取融资。

根据我国现行法律法规,应收账款转让的法律依据是《合同法》关于债权转让的规定。通过中国人民银行的应收账款质押登记系统进行的转让登记不是应收账款转让的法定要件,其并不能真实反映应收账款的权利状态。[4]保理商即使尽到较大的注意义务,通过多种校验核实手段,仍可能无法获知应收账款的真实信息。在登记系统中查询到相应应收账款的出质、转让或者异议登记信息时,考虑到法律风险,保理商应拒绝办理该笔保理业务。如果经查询,相应应收账款权利完整,没有出质、转让或异议登记的信息,保理商仍应开展尽职调查,通过交叉印证,进一步核实信息。[5]如果保理商决定受理保理业务,受理后应及时进入人民银行登记系统完成登记。[6]

3.审查回款监管

保理商开展保理业务融出资金后,最关注的莫过于如何确保买方或卖方能够按照合同约定按时足额支付资金,以偿还融资本息。回款风险监控是,保理商进一步熟悉客户、了解行业、持续管控风险,做好贷后管理的重要环节。针对不同的回款方式,监管审查重点有所不同:

(1)直接回款。为防止融资方挪用回笼资金,业务办理中多采用直接回款方式,通过保理合同约定回笼资金直接汇至保理商账户。实践中,银行作为保理商开展业务,普遍要求回款至债权人(保理融资人)开立在银行的账户。为防止债权人涉及其他纠纷,回款专户被司法冻结,建议银行保理商与债权人签订保证合同,并将该回款账户明确设定为保证金专户,该账户及户内资金不得用于日常结算。

(2)间接回款。采用该回款方式,回笼资金并不能被保理商直接控制。保理商通过合同条款安排,采用加重违约责任的方式,督促基础交易双方按约履行资金支付义务,有时并不能达到目的。因此,保理商业务经办人员应当强化资金支付关键时间节点意识,采取"贴身"战术,紧跟客户代表,紧盯资金支付流向,一旦发生债权人(保理融资人)收款后延期通知保理商、延期支付的情况,保理商业务经办人员应立即要求债权人(保理融资人)将应收账款项下的保理融资本息支付至指定回款账户或从债权人(保理融资人)的任一账户内扣收该笔款项,并视情况终止或解除合同。债务人一方一定期限内无正当理由频发发生违约付款行为,保理商应调低保理融资业务基础资产(应收账款)质量等级。在资金回笼环节,保理商可以针对债权人、债务人违约事实,视情况停止买卖双方的授信额度使用,并可以宣布融资提前到期,收回融资。

文中注释

[1]在通知买方时,如业务申请人事前不能将基础商务合同原件或加盖买卖双方公章合同章的基础商务合同复印件提交保理商留存,则应将卖方提供的基础商务合同复印件作为转让通知附件一并送达买方,以验证贸易背景,必要时可将基础商务合同电子扫描件发送买方邮箱(发送记录应予以保存),并注意跟踪买方有无异常反馈情况。

[2]间接回款的合理情形主要为:1.基础商务合同签订方不是实际付款方(例如由总/母公司统一签署框架性协议,具体订单、交易和结算由下属分/子公司执行。实际表现从总/母公司角度为间接回款,从分/子公司角度为直接回款)。2.下游客户为强势买方,且以往交易记录可反映出该买方并不按合同约定的账期付款,具体付款时点因强势买方的原因而推延,但最终付款风险可控。通常情况下,一般由卖方自有资金先行代为偿还保理敞口。3.卖方为大型集团公司的子公司,根据集团公司管理要求已设定固定回款账户且无法随意变更。4.买方所属行业普遍以票据回款作为付款方式。

[3]恶意的债权让与人可能与其中一个后位债权受让人串通,通过倒签转让日期或者倒签收到通知日期,制造虚假证据,从而损害善意受让人的利益,这意味着应收账款受让权益的保障存在一定的法律风险。

[4]很多保理商基于客户的要求,不做转让登记。甚至出现,保理商明知应收账款已经转让与其他保理商做了保理业务,但是考虑到客户提供了相应担保,仍然愿意再次做保理,提供融资的情况。

[5]尽职调查应当注重不同材料之间的交叉印证,对不同材料中货物服务名称、数量、金额、支付方式、期限、免责条件等核心内容进行相互对比核验,确保审查效果。

[6]需要特别说明的是,基于我国现行法律规定,上述登记行为并不能对抗《合同法》关于债权转让完成通知行为方对债务人生效的规定。因此,仅完成登记,未及时通知债务人的,应收账款转让行为对债务人不发生法律效力。

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To Use Mondaq.com you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.

Disclaimer

The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.

General

Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions