introduction
Accounts receivable management is one of the important contents of enterprise financial management. It is the accounting, supervision and management of the assets that should be collected from customers formed in the process of providing services for goods sold on credit. The management of accounts receivable is closely related to the credit foundation of the society and the completeness of the credit system. In western countries, enterprise credit management is an important social discipline. As a research discipline, it has a history of more than 100 years. At present, China's social credit foundation is still relatively weak, the social credit system is not complete, the credit management system is still being explored and established, and relevant policies and regulations have not yet been issued. At the same time, most of the enterprises in China have a weak awareness of accounts receivable management, and the management means are monotonous. The vast majority of enterprises have not established a relatively perfect credit management mechanism. Due to the huge gap in national conditions, China can not completely copy the management mode of accounts receivable in western countries. In the future, with the closer exchanges between China and other countries in the world, the degree of world economic integration continues to improve, China's market economy will be further developed, China's democracy and legal system will be further improved, and our social credit foundation will be gradually established and improved. At that time, our accounts receivable management will be more smooth and effective.
1、 Accounts receivable overview
（1） Basic meaning of accounts receivable
The meaning of accounts receivable can be divided into broad sense and narrow sense. The broad sense accounts receivable includes sales receivables, installment accounts receivable, notes receivable and other accounts receivable; In a narrow sense, accounts receivable mainly refer to sales receivables, that is, customers' Arrears caused by credit sales when an enterprise sells goods or provides services. The accounts receivable referred to in this paper are accounts receivable in a narrow sense. The emergence of accounts receivable is the inevitable result of enterprises' adoption of credit sales. Therefore, the flexible use and handling of accounts receivable can enable enterprises to stand firm in the tide of competitive market economy and create better income.
（2） Research status of accounts receivable
Accounts receivable is a creditor's right of an enterprise. It is a claim for value compensation in exchange for selling goods or providing services, but it is different from the creditor's right formed by the bank credit relationship. From the existing literature, accounts receivable are generally regarded as a creditor's right of an enterprise. Liuhongcheng (2005) pointed out in the process of the formation of accounts receivable that "credit sales refers to the transfer of ownership after the goods are delivered. The middleman owns the ownership of the goods and bears the responsibility of paying to the supplier. The supplier then has the right to collect money from the middleman. Accounts receivable have been generated in the supplier's financial account. Before the payment for goods is recovered, only creditor's rights have been generated, and the sales have not been completed.
The enterprise's accounts receivable not only face the recovery risk, but also bring business risk to the enterprise. Chenyingxin (2007) pointed out from the perspective of risk that the risk of accounts receivable means "due to the instability of market factors and the uncertainty of creditor's right and debt relationship during repayment, As a result, the accounts receivable of credit sales enterprises are uncertain in the recovery time and amount. "The author believes that the risk of accounts receivable is caused by the imperfect social credit system and the poor internal management of the enterprise. The internal control system of accounts receivable is an important accounting control system within the enterprise. Che Zongyi (2009) believes that" The internal control system of accounts receivable has not attracted enough attention from the senior management and accounting functional departments of most enterprises. The reasons are as follows: first, the original old manufacturing of the enterprise has become an extensive management mode of the enterprise; Second, the senior leaders of the enterprise do not have enough correct understanding of the control of business risks; Third, some enterprises are at a loss about how to establish an effective internal control system. "The author tries to solve the above three sticking points from six aspects.
1. in terms of debt protection mechanism, factoring of accounts receivable is a topic that domestic scholars pay more attention to. Jiaxiangping and Liu Kaochang (2010) pointed out that "although factoring business has made great progress, compared with the increasing scale of foreign trade and the huge amount of accounts receivable of enterprises in China, both international factoring and domestic factoring are obviously too small and thin, indicating that the development of factoring in China has a long way to go, However, there is also a huge market space. "It is believed that banks, enterprises and government departments should update their concepts, strengthen the construction of internal conditions and external environment, so as to promote the rapid development of factoring in China and play a greater role in the whole process management of accounts receivable.
2. in terms of credit management, zhurongen and dinghaokong (2010) pointed out that "China's credit situation is very serious, partly due to the poor credit environment, but largely due to a series of problems in China's credit management"; Many enterprises have no special credit management organization; A considerable number of personnel engaged in credit management lack special training; Lack of customer credit information; Fear of risk, Avoid using credit tools ". It comprehensively points out the crux of China's credit management and gives solutions in combination with China's national conditions. Liu Xu (2010) In view of the important contents of customer credit risk assessment, credit policy design, accounts receivable management involved in commercial credit management, this paper systematically studies the theory and method of credit management of commercial enterprises by combining qualitative and quantitative methods. According to the characteristics of accounts receivable, it probes into the management mode, strategies and methods of accounts receivable, and systematically studies the monitoring and early warning mechanism and risk resolution mechanism of accounts receivable.
This paper analyzes the reasons for the defects in the current situation of enterprise accounts receivable management in China, and puts forward feasible countermeasures and trends in order to implement effective management of enterprise accounts receivable risk.
（3） The necessity for enterprises to strengthen the risk management of accounts receivable
The so-called risk, from the perspective of probability, is the uncertainty of the result of an event. The risk of accounts receivable refers to the uncertainty of the recovery time and amount of accounts receivable of credit selling enterprises due to the instability of market factors and the uncertainty of creditor's right and debt relationship when paying off. In short, the risk of accounts receivable is the uncertainty of the amount and time that the accounts receivable held by the enterprise can be recovered in the future. That is, the risk that the commercial creditor's rights formed by credit sales will be confiscated and become overdue accounts, problematic accounts and bad debts. If the payment for goods cannot be recovered when it is due, overdue accounts will be formed, which will increase the cost of the enterprise; If the problem occurs for a longer time and is difficult to recover, the problem accounts will be formed, and the costs of enterprise reconciliation and recovery will increase; Once the problem accounts become bad debts, all the previous work of the enterprise will not only become useless, but also bring irreparable losses to the enterprise.
Therefore, it is very necessary to strengthen the risk management of accounts receivable, which is also one of the important work of marketing.
2、 Problems and causes of enterprise accounts receivable management
（1） Problems in enterprise accounts receivable management
1. accounts receivable are not reconciled and cleared on time
Some enterprises cannot regularly check accounts with relevant units, which brings difficulties to Dunning and clearing. Some current accounts that exist in name only are kept on account for a long time and are not handled in time, resulting in confusion of current accounts, especially the mismanagement of current accounts that have been written off.
For example, Xingsheng company in Guangzhou usually sells auto parts in batches for large-scale repair shops and 4S stores, that is, the first batch of products are sold on credit to customers. After customers purchase the next batch of products, they settle the payment for the previous batch, and the purchase volume of the next batch is greater than that of the previous one. In other words, these customers do not purchase goods frequently, but they purchase more goods each time, and they will purchase goods for several months at a time. The large amount of accounts receivable from customers who purchase goods circularly leads to slow collection speed and difficult capital turnover of the company. The increase in the amount of accounts receivable indicates that the funds occupied by customers are increasing, the opportunity cost is increasing, and the collection expenses are increasing. If the collection expenses are reduced, the bad debt losses will increase, and the sales enterprises bear huge accounts receivable management costs.
2. dereliction of duty causes a large number of "dead accounts"“
In the course of selling goods, products, materials, providing labor services and other businesses, some enterprises do neither credit investigation nor feasibility study on the other party, which creates an opportunity for some illegal businessmen to cheat and form a large number of bad debts.
For example, in a small agricultural machinery company in Shanghai, the monthly accounts receivable of many of their small customers ranged from 200 to 5000 and were unbalanced. The salesperson thought that it was a small amount and was not worth collecting. When the salesperson felt that there was enough money to collect, the customer had formed the habit of settling the payment once a few months, so he procrastinated again and again. Therefore, the company has formed a large number of bad debts.
3. taking advantage of the opportunity of restructuring and restructuring, the "burden" was thrown away, resulting in a large number of accounts left unattended. Some enterprises took the opportunity of deepening reform, restructuring and asset restructuring to collect a large number of accounts receivable or "dead accounts" of their subordinate enterprises and put them on the shelf. They called them "I carry the burden of non-performing assets", "support restructured enterprises" and "optimize enterprise assets", The result is that the accounts receivable between superior and subordinate companies are not managed and asked.
4. for the benefit of "small groups", write off "dead accounts" at will. Some enterprises and units do not actively think of ways to take effective measures to collect the long-term bad accounts, but do everything possible to think of ways to find higher-level leaders to write them off. Some even take this opportunity to write off a few more transactions, calculate the profits of the units and pay bonuses, resulting in a large amount of illegal loss of funds.
5. the creditor and debtor collude to seek private interests. In some units, leaders or management cadres, salespeople and salesmen collude with purchasing units or labor service receiving units to seek personal gains. In order to achieve the goal of "curving" the purchase of small cars, the leaders of some units deliberately said that the accounts could not be collected, and said that the bought cars were offset.
（2） Causes of enterprise accounts receivable management problems
1. weakening of management system
Although the enterprise has carried out substantial reforms in recent years, changed its operating mechanism and expanded its autonomy, it has not established a sound system in terms of operation, enterprise management and financial system, and lacks necessary supervision and restriction on business personnel and business activities. Therefore, problems can neither be found in time nor properly solved. The low management level and poor quality of business personnel in some units are also the direct reasons for letting others exploit loopholes. In recent years, too much emphasis has been placed on market development, ignoring the complexity of the market and the prevention of risks; Overemphasize and pursue output value and Book profit, and relax the management of accounts receivable; The lack of institutionalization in some enterprises and the randomness in the business process of credit investigation on purchasing units or labor service receiving units are all important reasons for the loss of a large number of accounts receivable.
For example, in order to expand the sales scope, increase the market share and blindly expand the sales, the root cause of this phenomenon lies in the unreasonable formulation of credit policies, which is manifested in the loose formulation of credit standards, credit conditions and collection policies, resulting in a large amount of funds of the company being occupied by accounts receivable, and the funds are difficult to operate because they cannot be returned in time. For example, the maximum amount of accounts receivable for some auto parts sales is 3000 yuan, and there is no strict credit period. Different credit policies are not formulated according to different sales partners.
2. enterprise full-time supervision is a mere formality, and the audit supervision system is not perfect. Failure to adhere to the annual audit and leaving office audit system for the factory directors and managers of the enterprise, and failure to objectively and fairly reflect the operating benefits of the enterprise's state-owned assets. The promotion of state-owned assets managers is not linked to their management benefits. Therefore, the loss of their reconciliation accounts is all related to themselves, without the worry of taking risks. They allow their assets to drain or even participate in the partition. This will inevitably lead to the loss of a large number of creditor's rights and interests of enterprises. The channels for supervision by the staff and workers are not smooth.
For example, the full-time supervision of a company is a mere formality, and the audit supervision system is not perfect. Most sales decisions are made based on the sales experience and the previous payment collection rate. However, the analysis of changes in the customer's sales, capital operation, personnel changes, business strategies and other influencing factors is insufficient, and there is a lack of reasonable assessment standards. They always thought that the other party had a high reputation, so they lowered the threshold of credit sales and blindly expanded the scale of accounts receivable. It is this optimistic idea that causes the company to generate a large number of accounts receivable.
3、 Management strategy of enterprise accounts receivable
（1） Establish a reasonable accounts receivable process
1. transaction contract management
When the sales department receives the credit sales declaration form reviewed and signed by the authorized representatives of the credit department and the business group, it will sign the sales contract according to the approval opinions and reach an agreement with the customer. The elements of the paper format sales contract must be complete and comply with the national laws and regulations, especially the specific liability for breach of contract in terms of payment form, accounting period and deferred payment should be clear and accurate, and then the contract should be photocopied and submitted to the credit management department and the financial department respectively after verification, so as to facilitate their supervision and early warning on the implementation, tracking and inspection of the sales contract.
2. shipment / return management
The sub units shall reasonably arrange the shipment and check the purchase records of overseas warehouses, timely master the shipment status, ensure that the shipment is made within the time limit specified in the contract, regularly check the shipment quantity with the customer receiving unit, and deal with the discrepancies in real time. Check the goods returned by the customer, find out the reasons for the return, clarify the responsibility for the return, and provide the detailed data of the received return to the sales unit and the financial department for future reference.
3. sales management
The Sales Department of the subsidiary shall issue a sales order according to the shipping records, and check whether the issuance of the write off order is timely and complete, so as to ensure that the sales amount does not exceed the credit limit.
4. invoicing and account establishment management
The sales unit shall, in accordance with the agreement reached with the customer, issue sales invoices on a regular basis (by date, batch / order, etc.) according to the quantity on the sales order and the amount indicated in the customer's order, and send them to the customer in a timely manner for checking and account establishment. At the same time, a copy of the invoice shall be sent to the finance department for account establishment. The finance department shall check whether the date, amount and account of the invoice are correct, and enter it into the account after confirmation. The accounts receivable and sales revenue shall be established at the same time.
5. invoice transmission and confirmation management
According to the current operation status, customer invoices are mainly transmitted by mail, e-mail, electronic media transmission (such as EDI transmission) and other means to ensure that customers can receive sales invoices in a timely and complete manner, which is very important for customers' timely entry and payment. The financial department should assist the sales unit to establish a standard invoice transmission process, develop an invoice transmission and daily processing mechanism, and deal with customer feedback in real time.
6. reconciliation management
A set of standardized and regular reconciliation system should be formulated to avoid the growing financial gap between the two sides like a snowball, resulting in bad debts and bad debts. At the same time, after reconciliation, legal instruments should be formed instead of verbal commitments. Establish a regular reconciliation system, send reconciliation letters to important customers every month, and the business personnel go to the opposite party's financial department to obtain signature and approval, so as to ensure that there is no error in the amount of payment. According to the customer feedback, timely deal with the differences and improve the problematic trading links.
7. target and account recovery management
The business personnel of the sales unit shall obtain the customer's payment plan before the account expires, find out the account problems in real time, communicate effectively with the customer, and actively assist the customer's procurement department in dealing with the problematic payment. The financial unit shall actively cooperate with the business unit to contact the customer's payment department, so that the customer can realize that we attach great importance to it and are determined to recover the arrears, so as to improve the customer's cooperation to a certain extent. At the same time, set up special accounts receivable management indicators within the group as a reference for performance evaluation of accounts receivable management of sales units and financial departments.
8. overdue collection management
For the arrears that cannot be recovered on time, it is necessary to find out the real reason for the overdue, find out the problem link according to the account transaction process, formulate different treatment plans for each customer and each payment for the overdue accounts, report to the relevant leaders of the finance and sales departments, strengthen the collection efforts, and regularly review the collection progress until the payment is recovered.
9. bad debt management
According to the current accounting system, at the end of the year, the provision for bad debts shall be made according to a certain proportion of the total book accounts receivable for offset in case of bad debts, so as not to cause large fluctuations in the profits of the current year and minimize the operational risk. As the bad debts are closely related to the credit conditions, credit period and customer credit quality provided to customers, the proportion of bad debt reserves withdrawn by different companies is different, but once the proportion is determined, it cannot be changed at will. To establish the bad debt provision system, it is necessary to first formulate the bad debt provision standard, and then accrue the bad debt provision according to the standard, so as to provide a stable source for the recognition and treatment of bad debt losses. In case of customer bankruptcy or sudden major operating conditions, the accounts may not be recovered for a long time, it is necessary to find out the causes of bad debts, issue a special report, and submit it to the management for approval before write off.
（2） Specific implementation plan
1. accounts receivable management policy
(1) Objective management indicator assessment method. In order to measure the management level of accounts receivable of each unit, a series of management indicators have been formulated as assessment reference. Each unit can take them as management indicators to measure the status of accounts receivable, and can also improve the problems in accounts receivable management according to various indicators.
(2) Administrative measures for electronic invoice system.
Most of the key strategic customers use electronic invoices for transactions, and the number of invoices per month is up to thousands. At present, problems often occur when our electronic invoices are transmitted or received by the other party. In order to ensure that the invoices can be sent to the customer receiving system timely and accurately, a rigorous invoice transmission audit system must be established to help the group information department provide technical support and strictly implement it together with the responsible departments of the subsidiaries.
2. establish an internal audit mechanism and give full play to the supervisory role of internal audit in the management of accounts receivable. The supervisory role of internal audit in the management of accounts receivable is mainly reflected in two aspects: one is to continuously improve the monitoring system and improve the internal control system; the other is to check the implementation of the internal control system to check whether there are abnormal accounts receivable, whether there are major errors, dereliction of duty, internal fraud, intentional failure to recover accounts, etc., so as to ensure the recovery of accounts receivable. In our country, most of the internal audit still stays in the aspects of operating efficiency audit, while the design and compliance of the enterprise internal control system and the disclosure of fraud and corruption among enterprise employees are far from enough. Internal audit accounts receivable audit should mainly focus on the sales and collection process. In the sales process, it should check the appropriate separation of duties of the sales business, the correct authorization and approval, sufficient vouchers and records, the pre numbering of vouchers, and the sending of statements on a monthly basis. In the collection process, the reasonableness of the collection records shall be checked, accounts receivable shall be checked, the aging of accounts shall be analyzed, letters to the debtor shall be confirmed, etc.
3. standardize the sales behavior of sales personnel
A strict sales personnel management system must be established to standardize the sales behavior of the sales personnel, determine the rationality of the sales personnel's price freedom, so that the sales personnel have a certain degree of autonomy. At the same time, it must be controlled within a certain range, link the sales business return rate of the sales personnel with the salary, mobilize the enthusiasm of the sales personnel, improve the high-quality rate of accounts receivable, and reduce the occurrence of bad accounts receivable.
4. set up a / R Sub Ledger
In order to strengthen the management of accounts receivable, based on the general ledger, enterprise accounting should set up sub ledgers according to the name of credit customers, record the transactions of each credit customer in detail and in sequence, and assign full-time personnel to be responsible for accounting, so as to reflect the credit situation of each customer at any time; In addition, the subsidiary ledger and general ledger of accounts receivable should be checked regularly to ensure the accuracy of records.
5. reasonably use sales discounts and standardize bad debt write off
The auto parts sales industry uses commercial credit to generate a large number of accounts receivable, and accounts receivable is a kind of creditor's rights that can only be recovered after a certain period of time. Therefore, sales discounts should be used effectively to encourage customers to pay in time or as early as possible, so as to shorten the payback period of enterprise accounts receivable and reduce the occurrence of bad debts.
The bad debts incurred in the shall be written off in accordance with the provisions of the accounting law, and shall not be written off at will to achieve the purpose of regulating profits.
6. scientific use of legal weapons
The economic activities of the company are protected and restricted by law. As sales personnel and financial personnel of the company, they should master the relevant laws and regulations of the industry and maintain the integrity of the creditor's rights of accounts receivable. For example, the formulation of the sales contract should clarify the responsibilities and obligations of each party, especially the relevant provisions of the breach clause and the guarantee clause, so as to avoid future disputes. After regular reconciliation and collection, the legal written documents shall be obtained to avoid oral commitments. For customers in debt crisis, creditors should start to apply for bankruptcy proceedings or debt restructuring in time to reduce corporate losses.
It can be seen that the management of accounts receivable is an important part of the assets of small and medium-sized enterprises. The quality of management directly affects the survival and development of enterprises.
4、 Case - risk and resolution
（1） Case background
Jincheng Xinglong company was founded in may2003, with legal representative Zhang and registered capital of 30million yuan. It is mainly engaged in the wholesale and retail of steel, wood, building materials, etc. According to the enterprise financial statements, as of november2009, the total assets of the company were 370million yuan, including 279million yuan of current assets, 56million yuan of fixed assets, 112million yuan of total liabilities, 258million yuan of net assets and 30.26% of asset liability ratio
In the past two years, Jincheng Xinglong company has made a large number of fixed asset investments, but the fixed asset projects it has invested in and built have not been put into operation due to incomplete land procedures and other reasons, which occupy a large amount of funds. Since 2009, the borrower has had problems in operation, its repayment ability has declined, and its own financing amount and external guarantee amount are large, so it has lost confidence in operation and wants to take the opportunity to evade bank debts and transfer a large number of assets. Most of the assets of the enterprise are no longer under the name of the legal representative.
Companies a, B and C that have accounts receivable relationship with jinchengxinglong company are as follows: company a, established in 2002 with a registered capital of 2.5 million yuan, is mainly engaged in the wholesale and retail of steel products; In 2005, it was rated as grade A by the credit rating company; 14.9 million yuan of outstanding bank loans; There is no bad credit record in the bank. Company B, established in 2003, is mainly engaged in the wholesale and retail of steel, pig iron, etc., with a registered capital of 500000 yuan and a total asset of 30million yuan; The bank's outstanding credit business balance is 0; There is no bad credit record in the bank. Company C, founded in 2006 with a registered capital of 5million yuan, is mainly engaged in the wholesale and retail of steel, pig iron, auto parts, rubber and plastic products, construction machinery, gold and silver products, etc; The outstanding loan of the bank is 1million yuan; Records of interest arrears incurred in the bank.
The three companies have normal business relations with jinchengxinglong company. Jinchengxinglong company has a relatively large scale. It wholesales steel products from large steel enterprises at preferential prices and sells them at increased prices to some small companies, including the three companies.
（2） Business handling and risk formation
On September 17, 2009, due to the shortage of working capital, jinchengxinglong applied to Laiwu h bank for factoring business of 7.26 million yuan, which was mortgaged by accounts receivable of 6.372 million yuan from company a, 3.484 million yuan from company B and 3.69 million yuan from company C. Factoring business is a business type mainly promoted by bank h in recent years. Due to the real trade and logistics as the basis, the risk is relatively small. Bank H has made more than 200million yuan of factoring in recent years, and has never had any adverse events. Like the previous factoring business, Bank H inspected the trade transactions between Jin chengxinglong and the three companies and confirmed that they were real trade transactions. At the same time, the three companies are in good operating condition and have sufficient economic strength to pay the accounts receivable. The three companies confirmed the accounts receivable and promised to pay the relevant funds to the designated account of Bank H on March 20, 2010, and added a company to assume joint and several liability guarantee.
After the approval of this business, the handling personnel of Bank H signed relevant contracts with the borrower, guarantor and debtor, and inquired in the accounts receivable pledge registration and publicity system of the people's Bank of China, and found that the above three accounts receivable had not been pledged or transferred. The handling personnel of Bank H then registered the information of these three businesses in the system according to relevant requirements, including the basic information of the pledgee and the pledgor, the description of accounts receivable, the registration period, etc., and timely downloaded and printed the registration certificate. Subsequently, Bank H granted a loan of 7.26 million yuan to Jincheng Xinglong company for a period of 7 months for the purpose of purchasing materials.
In 2010, the guarantee provided by jinchengxinglong company for other companies was recovered for compensation of 2million yuan. Later, it was sued and asset preservation, and assumed the guarantee responsibility of 20.5 million yuan, resulting in the breakage of the capital chain of jinchengxinglong company, the bad credit business of each bank, and the factoring business failed to be recovered when it was due. It is understood that Mr. Zhang, the legal representative of Jincheng Xinglong company, separately demanded the accounts receivable from companies a, B and C before the expiration of the pledge business of accounts receivable, and did not pay the funds to the designated accounts receivable of bank h for repayment of the loan, resulting in the loss of repayment sources and the formation of non-performing factoring. Bank H has sued jinchengxinglong company to the local court, and jointly sued companies a, B and C.
（3） Risk resolution
After receiving the letter of complaint from bank h, the court held that the initial registration and inquiry report of pledge of accounts receivable provided by bank h had not been sealed and confirmed by the people's Bank of China, and the evidence was insufficient. The court requested the people's Bank of China to issue a certificate to confirm that the three accounts receivable were indeed registered in the public system of pledge of accounts receivable registration of the people's Bank of China. After checking the system, the credit investigation staff of the people's Bank of China confirmed that bank h had indeed registered the three accounts receivable, so they issued a certificate that the query was true. The court recognized the pledge registration of accounts receivable, and the 7.26 million yuan credit assets of Bank H were preserved.
China's accounts receivable pledge financing business has not been rising for a long time, and there are few accounts receivable pledge cases. Although the amount involved in the Jin Cheng Xinglong case is small, it is typical, from which we can find out the risks and solutions of accounts receivable pledge.
1. information asymmetry is an important cause of risk. From the perspective of the main body of accounts receivable pledge, jinchengxinglong company, as a small and medium-sized enterprise mainly engaged in steel trade, had been expanding its scale due to the good sales situation in the domestic steel market before 2008. However, since 2009, due to the shrinking market and the poor investment and management of enterprises, the funds began to be tight. During this period, it applied to bank h for accounts receivable pledge financing business. Bank H was aware of these situations during the pre loan inspection and approval. However, after handling the pledge financing business, many changes have taken place in the enterprise, such as the aggravation of business turnover difficulties, transfer of assets, guarantee and compensation, which bank h does not understand. It was not until the enterprise's capital chain was broken and sued by many other banks that bank h found that the credit capital was at risk.
From the perspective of the object of pledge of accounts receivable, when jinchengxinglong applied for pledge financing, the authenticity and effectiveness of Bank H's accounts receivable were investigated clearly, and a tripartite agreement was signed. However, after handling the pledge financing business, bank h did not know how the creditors and debtors negotiated privately to transfer the accounts receivable. It can be seen that information symmetry plays an important role in it. An important reason for the risk of accounts receivable pledge financing business is that commercial banks cannot timely and comprehensively understand the relevant information of creditors, debtors and accounts receivable.
2. the risk has been resolved, indicating that the pledge risk of accounts receivable is controllable
After accepting the case of accounts receivable pledge financing, the court conducted a comprehensive review of the relevant elements of the case and held that the loan contract and accounts receivable pledge contract were true and effective, in line with the requirements of the property law and the security law. The only problem was that the query report and initial registration evidence of the accounts receivable pledge registration publicity system of the people's Bank provided by the commercial bank were insufficient. The reason is that the query report and the initial registration are printed on ordinary A4 paper, without the official seal of the people's Bank of China or the credit investigation center of the people's Bank of China, and cannot be used as evidence. This problem was solved after the local people's Bank inquired, confirmed and stamped with the official seal, and the bank assets were preserved.
In this case, the pledge of accounts receivable shows more advantages than other credit businesses. As most of the assets of jinchengxinglong company have been transferred, it has lost the ability to repay. At the same time, due to the debtors a, B Company C has violated the principle of "paying relevant funds to the designated account of Bank H on March 20, 2010" "Therefore, the three companies should bear joint and several liability for compensation. At present, the three companies operate normally and have actual repayment ability, which is conducive to the preservation of credit assets of commercial banks. In this sense, the debtor has realized the pledge guarantee for the pledgor through the repayment commitment of accounts receivable, and reduced the risk of accounts receivable pledge financing through implicit guarantee.
The case of jinchengxinglong's pledge of accounts receivable shows that as long as the examination of creditors, debtors and accounts receivable is strictly conducted, strict tripartite contracts are signed, and the operating procedures for pledge registration and publicity are strictly enforced, the risks of the pledge financing business of accounts receivable are controllable, the rights and interests can be legally guaranteed, and the pledge of accounts receivable is a safe financing product for small and medium-sized enterprises. At the same time, it also shows that under the current conditions, the fund security of accounts receivable pledge financing must meet the above conditions.
3. risk control approach of accounts receivable pledge
The key to the realization of the pledge of accounts receivable lies in the timely and full transfer of accounts receivable, and the core lies in the performance of the third party, that is, the debtor. On the one hand, the key point of the pledge risk control of accounts receivable lies in the control of the corresponding capital flow of accounts receivable. Therefore, corresponding supporting supervision and management measures are generally formulated for accounts receivable accounts during handling, while other rights pledge does not need such auxiliary control means; On the other hand, the pledge of accounts receivable guarantees another right of claim with one right of claim. Therefore, although the debtor of accounts receivable is not one of the legal subjects of pledge legal relationship, it is indispensable. It must be added to the pledge system of accounts receivable in order to truly realize the guarantee function of pledge of accounts receivable.
(1) Strengthen the review of accounts receivable debtors. Due to accounts receivable. In terms of its fundamental nature, it is a creditor's right, which is only a right of claim. The pledge established with this as the subject can only be a right of claim when it is finally realized, that is, it can only realize its own rights by requesting the debtor of accounts receivable to pay a certain amount of money, which cannot constitute direct control and disposal of a specific object. The extent to which the pledge of accounts receivable can be realized depends mainly on the solvency of the debtors of accounts receivable. In the case that both parties of the basic relationship of accounts receivable damage the security interests of the pledge based on various motives and ways, the pledgee can only claim damages to achieve relief.
(2) Strict operation process of accounts receivable pledge business. The pledge financing business of accounts receivable is a relatively new business type, especially the asset-backed loan that takes accounts receivable as the first repayment source, which makes commercial banks get rid of excessive attention to the size and development stage of enterprises, and is a new field of credit business of commercial banks. Therefore, commercial banks must innovate the thinking mode, carefully design the process, and control the risk within a certain range. First, it is necessary to control the buyer's performance risk through on-the-spot investigation, peer consultation, credit record search, etc., and try to obtain the buyer's confirmation and commitment information of accounts receivable in the form of tripartite agreement or letter of commitment, so as to realize the guarantee function of accounts receivable pledge; Second, the share of a single account receivable, a single account receivable debtor in the accounts receivable pool, and the pledge rate of accounts receivable should be limited to prevent concentration risk; Third, we should try our best to master enough written supporting materials, such as purchase and sales contracts, shipping vouchers, sales invoices, etc., and register the pledge in time to prevent legal risks.
(3) The follow-up management after the establishment of pledge right is very important. After the pledge right is established, the lending bank shall track and monitor the performance of the basic contract that generates accounts receivable, timely and comprehensively collect relevant evidence that the pledgor has properly and fully performed its obligations under the basic contract, and urge the pledgor to request payment in time to prevent exceeding the time limit of the lawsuit. Closely monitor the return of pledged accounts receivable, pay attention to the return of other cash flows of the borrowing enterprise, and timely supplement or add corresponding guarantees to ensure the source of repayment. Special attention shall be paid to whether the pledgor and the debtor maliciously collude to damage the interests of the pledgee, so as to avoid the failure to realize the final pledge.
afterword
The problem of accounts receivable is caused by the lack of awareness of credit risk management and the lack of means of credit risk management. Many enterprises either have not established accounts receivable management policies at all, or the accounts receivable management policies have become empty words and have not been implemented. Some enterprises are worried about the impact of account recovery on customer relations. All of these have led to a high rate of accounts receivable and bad debt of Chinese enterprises.
Therefore, when an enterprise adopts credit sales, it must consider the accounts receivable generated by credit sales and the impact of accounts receivable on the production and operation of the enterprise, strengthen the control and management of accounts receivable, speed up the recovery speed, shorten the recovery cycle, reduce the occurrence of bad debts, strive to reduce the business risk of the enterprise, and make the enterprise in an invincible position in the fierce market competition.