Payment of an invoice is made by a factor under the guarantee he issued to seller or to another factor.
10
Bank guarantee
A bank has agreed to stand as guarantor to ensure that payment is made.
11
Public authority guarantee
A public authority has agreed to stand as guarantor to ensure that payment is made.
12
Third party guarantee
The party who has agreed to stand as guarantor to ensure that payment is made is neither the payee nor the payor.
13
Standby letter of credit
The guarantee of payment is in the form of a standby letter of credit.
14
No guarantee
No guarantee of payment has been made or is available.
20
Goods as security
The payor has provided possession of, or title in goods, as security against payment.
21
Business as security
The payor has provided title in, or a lien over a business whose assets may be sold or sequestered, as security against payment.
23
Warrant or similar (warehouse receipts)
The payor has provided a warrant or warehouse receipts for goods or property to be held or used as security against payment.
24
Mortgage
The payor has provided a mortgage as security against payment.
41
Book guarantee/book bond
44
Group guarantee
45
Insurance certificate
A certificate of insurance has been provided as a guarantee of eventual payment.
ZZZ
Mutually defined
A code assigned within a code list to be used on an interim basis and as defined among trading partners until a precise code can be assigned to the code list.