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
- 00010Message headerMandatoryMax 1
A service segment starting and uniquely identifying a message. The message type code for the Credit risk cover message is RECECO. Note: Credit risk cover messages conforming to this document must contain the following data in segment UNH, composite S009: Data element 0065 RECECO 0052 D 0054 12B 0051 UN
1. Data element S009/0057 is retained for upward compatibility. The use ofS016 and/or S017 is encouraged in preference.2. The combination of the values carried in data elements 0062 and S009 shallbe used to identify uniquely the message within its group (if used) or ifnot used, within its interchange, for the purpose of acknowledgement. - 00020Beginning of messageMandatoryMax 1
A segment specifying the function and status of the message.
- 00030ReferenceConditionalMax 9
A segment identifying the reference of another message or transaction related to this message.
- 00040Date/time/periodConditionalMax 9
A segment specifying the date and, when required, the time at which the message has been created as well as other dates and times relevant to the transactions, e.g. request date.
- Segment group 1Repeat 99
- 00060Name and addressMandatoryMax 1
A segment identifying the name and address of the parties associated with the credit risk cover message.
- 00070Contact informationConditionalMax 1
A segment identifying a person or a department for the party specified in the NAD segment and to whom communication should be directed.
- 00080Communication contactConditionalMax 5
A segment providing a communication number for the party identified in the NAD segment and optionally for the contact identified in the associated CTA segment.
- 00090Financial institution informationConditionalMax 1
A segment identifying the financial institution (e.g. bank) and relevant account numbers for the parties involved, where necessary.
- 00060Name and addressMandatoryMax 1
- Segment group 2Repeat 99
- 00110Document/message detailsMandatoryMax 1
A segment identifying the credit cover.
- 00120Monetary amountConditionalMax 1
A segment giving the monetary amounts of the current credit cover and one or more new credit covers.
- 00130CurrenciesConditionalMax 1
A segment identifying the currency of the credit cover.
- 00140Date/time/periodConditionalMax 5
A segment specifying the dates related to the credit cover, such as expiration date, date valid from or the order date (latest shipment date).
- 00150Credit cover detailsConditionalMax 1
A segment specifying a request for a credit cover, a reply to that request and the reasons for the reply.
- 00160Percentage detailsConditionalMax 1
A segment specifying the percentage of the own risk, related to the credit cover.
- 00170Payment termsConditionalMax 1
A segment specifying the payment terms, as agreed between seller and buyer.
- 00180Free textConditionalMax 1
A segment specifying the response to the request, in coded form.
- 00190ReferenceConditionalMax 1
A segment identifying the order number, when necessary.
- 00110Document/message detailsMandatoryMax 1
- 00200Message trailerMandatoryMax 1
A service segment ending a message, giving the total number of segments in the message (including the UNH & UNT) and the control reference number of the message.
1. 0062, the value shall be identical to the value in 0062 in thecorresponding UNH segment.