《國際保理通則》（GRIF 2013）譯註（八）：信用風險，承保額度的申請與核准

02-02

SECTION III Credit Risk

第三節　信用風險

Article 16 Definition of credit risk

(i) The credit risk is the risk that the debtor will fail to pay a receivable in full within 90 days of its due date otherwise than by reason of a dispute.

(ii) The assumption by the Import Factor of the credit risk on receivables assigned to him is conditional upon his written approval covering such receivables.

第十六條　信用風險的定義

1．信用風險指債務人出於商業糾紛以外的原因，在賬款到期日後90日內未能全額付款的風險。

2．進口保理商對賬款承擔信用風險，以其書面核准該筆賬款為前提。

Article 17 Approvals and requests for approvals

(i) Requests of the Export Factor to the Import Factor for the assumption of the credit risk, which may be for the approval of individual orders or of credit lines, must be in writing and must contain all the necessary information to enable the Import Factor to appraise the credit risk and the normal payments terms.

(ii) If the Import Factor cannot confirm the exact identification of the debtor as submitted to him he may amend these details in his reply. Any approval shall apply only to the exact identity of the debtor given by the Import Factor in that approval.

(iii) The Import Factor must, without delay and, in any event, not later than 10 days from receipt of the request, advise the Export Factor of his decision in writing. If, within the said period, the Import Factor cannot make a decision he must, at the earliest, and before the expiry of the period so advise the Export Factor.

(iv) The approval shall apply up to the amount approved to the following receivables owed by the debtor:

　(a) those on the Import Factor』s records on the date of approval;

　(b) those arising from shipments made up to 30 days before the date of request for approval;

and shall be conditional in each case, upon the receipt by the Import Factor of the invoice details and the documents as stipulated in Article 14.

(v) 　(a) Approval in full or in part of an individual order binds the Import Factor to assume the approved credit risk provided that the shipment of the goods is made not later than the date of shipment, if any, stated in the request for the assumption of credit risk or any earlier expiry date indicated by the Import Factor in the approval.

　(b) The approval of a credit line binds the Import Factor to assume credit risk on those receivables up to the approved amount for shipments made before cancellation or expiry date of the line.

　(d) Shipment in relation to goods occurs when they are placed in transit to the debtor or his designee, whether by common carrier or the debtor』s or supplier』s own transport and in relation to services when they are completed.

(vi) A credit line is a revolving approval of receivables on a debtor』s account with one supplier up to the amount of the credit line. Revolving means that, while the credit line remains in force, receivables in excess of the line will succeed amounts within the line which are paid by the debtor or the Import Factor or credited to the debtor. The succession of such receivables shall take place in the order in which they are due for payment and shall be limited at any time to the amount then so paid or credited. Where 2 or more receivables are due for payment on the same date then their succession shall take place in accordance with the order of their respective invoice numbers.

(vii) All approvals are given on the basis that each account receivable is in conformity with the terms of payment (with a permissible occasional variation of 100% or 45 days whichever period is shorter) contained in the pertinent information upon which such approval was granted. However, no such variation, which extends the credit beyond any credit period specified as a maximum by the Import Factor in the approval, shall be permitted.

(viii) The approval shall be given in the same currency as the request. However, the credit line covers receivables represented by invoices expressed not only in that currency, but also in other currencies; but in all cases the risk to the Import Factor shall not at any time exceed the amount of the original approval.

(ix) There shall be only one credit line for each supplier on each debtor and any new credit line shall cancel and replace all previous credit lines for the same supplier on the same debtor in whatever currency denominated.

(x) If it is known to the Import Factor that it is the practice of the debtor to prohibit assignments of receivables owing by him then the Import Factor shall so inform the Export Factor in giving his approval or as soon as it is known to the Import Factor if later.

第十七條　核准與申請核准

1．出口保理商針對個別訂單或信用額度請求進口保理商承擔信用風險的申請，須以書面方式作出並包含全部必要信息，以便進口保理商用以評估信用風險以及正常的付款條件。

2．如進口保理商無法確認申請所涉及的債務人的確切身份，他可以在回復中更改相關細節。任何核准僅對進口保理商於核準時確認身份的債務人有效。

3．進口保理商必須迅速（最遲不得超過收到申請後10日內）將其決定書面通知出口保理商。如在上述期限內無法作出決定，則進口保理商亦應儘早（於期限屆滿前）告知出口保理商。

4．核准對債務人所欠的下述賬款有效，並以所核准的總額為限：

　a）在核准之日進口保理商已記錄在案的賬款；

　b）自提出核准申請之日前30日內已發貨所產生的賬款；

並以進口保理商收到第十四條所規定的發票詳情及單據為前提條件。

5．　a）對個別訂單的全部或部分核准，意味著進口保理商將承擔已核准的信用風險，前提是發貨不得晚於核准申請中載明的發貨日期或進口保理商在核准中規定的其他更早的期限；

　b）核准信用額度，意味著進口保理商必須承擔核准總額以內、額度取消或到期之前賬款的信用風險。

　c）「貨物」一詞包括「服務」之義，「發貨」包括「提供服務」之義。

　d）發貨，指貨物裝載入承運人、債務人或供應商自己的運輸工具運往債務人或其指定人，或指服務已完成。

6．信用額度指在該額度內對特定供應商與特定債務人間賬款的循環核准。循環指在信用額度有效期內，超出額度的賬款將補入額度內已被債務人或進口保理商償付的或貸記債務人賬戶的金額。這些賬款將按其付款到期的順序依次補入，並始終限於已償付或已貸記的金額。如兩筆或多筆賬款於同一日到期，則依據其發票號碼順序依次補入。

7．一切核准均以各筆賬款的付款條件符合憑以核准的相關信息為基礎（允許不超過一倍或45日的偶然展期，以兩者中期限短者為準）。超出信用期限展期的最長期限於進口保理商的核准中具體說明，不允許展期亦被許可。

8．核准幣種應與申請幣種一致。信用額度對以核准幣種或以其他幣種記價的發票所代表的賬款均有效，但在任何情況下進口保理商所承擔的風險均不超過最初核准的金額。

9．同一供應商對同一債務人唯有一個信用額度。任何新的信用額度，無論以任何幣種表達，將撤消並替代同一供應商對同一債務人過往的全部信用額度。

10．如進口保理商知悉債務人對其所欠的賬款有禁止轉讓的慣例，則進口保理商在核準時應將此告知出口保理商。如進口保理商事後得知此情況，亦應立即告知出口保理商。

註：GRIF 框架下所稱「額度」，專指進口保理商（買方保理商）對出口保理商（賣方保理商）的承保額度，而非融資額度。由 GRIF 第一條可知，此規則將「融資」排除於保理業務核心功能之外，是基於應收賬款提供商事和信用服務的合作準則。

國內絕大多數保理商都認為對應收賬款提供記賬、收款和保證業務「不接地氣」，紛紛以融資為核心出發點營銷業務，但實踐結果卻是普遍出現大規模的不良。實際上，記賬、收款和對買方信用風險的承保才是進一步實施後續金融服務的基礎和安排保障。如果這三項業務不過關，融資安能放心？更何況開展「四兩撥千斤」的企業財務工程構建？