United Nations Directories for Electronic Data Interchange for
Administration, Commerce and Transport
UN/EDIFACT
United Nations Directories for Electronic Data Interchange for |
Message Type : RECECO
Version : D
Release : 01C
Contr. Agency: UN
Revision : 1
Date : 2001-11-07
SOURCE: D6 Finance (SWG)
CONTENTS
Credit risk cover message
0. INTRODUCTION
1. SCOPE
1.1 Functional definition
1.2 Field of application
1.3 Principles
2. REFERENCES
3. TERMS AND DEFINITIONS
3.1 Standard terms and definitions
4. MESSAGE DEFINITION
4.1 Segment clarification
4.2 Segment index (alphabetical sequence by tag)
4.3 Message structure
4.3.1 Segment table
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For general information on UN standard message types see UN Trade Data
Interchange Directory, UNTDID, Part 4, Section 2.3, UN/ECE UNSM
General Introduction
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0. INTRODUCTION
This specification provides the definition of the Credit risk
cover message (RECECO) to be used in Electronic Data
Interchange (EDI) between trading partners involved in
administration, commerce and transport.
1. SCOPE
1.1 Functional definition
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).
1.2 Field of application
The Credit risk cover message may be used for both national and
international applications. It is based on universal practice
related to administration, commerce and transport, and is not
dependent on the type of business or industry.
This message may be applied for both national and international
settlements.
1.3 Principles
The flow of communication is from Seller to Factor (request),
and from Factor to Seller (answer). The Seller must provide
information regarding the Buyers (name, address, etc.) and
information regarding the expected amount of sales to be risk
covered. The Factoring company will provide an answer, after
due credit investigation.
The credit cover may be a 'line cover' or an 'order cover'. A
line cover relates to the sales of one seller to one buyer, up
to the agreed limit. An order cover relates to a specific order
(or shipment).
- one credit cover may relate to one or more line covers;
- one credit cover may relate to one or more order covers;
- for each distinct period there is only one line cover;
- one credit cover must relate to one buyer;
- one credit cover must relate to one seller.
2. REFERENCES
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General
Introduction, Section 1.
3. TERMS AND DEFINITIONS
3.1 Standard terms and definitions
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General
Introduction, Section 2.
4. MESSAGE DEFINITION
4.1 Segment clarification
This section should be read in conjunction with the segment
table which indicates mandatory, conditional and repeating
requirements.
0010 UNH, Message header
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 01C
0051 UN
0020 BGM, Beginning of message
A segment specifying the function and status of the message.
0030 RFF, Reference
A segment identifying the reference of another message or
transaction related to this message.
0040 DTM, Date/time/period
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.
0050 Segment group 1: NAD-CTA-COM-FII
A group of segments identifying the name and address of the
parties involved in the transaction, their contacts and
financial institution information.
0060 NAD, Name and address
A segment identifying the name and address of the parties
associated with the credit risk cover message.
0070 CTA, Contact information
A segment identifying a person or a department for the party
specified in the NAD segment and to whom communication
should be directed.
0080 COM, Communication contact
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.
0090 FII, Financial institution information
A segment identifying the financial institution (e.g. bank)
and relevant account numbers for the parties involved, where
necessary.
0100 Segment group 2: DOC-MOA-CUX-DTM-CCD-PCD-PAT-FTX-RFF
A group of segments identifying the amounts of the credit
covers, the currency, the date, the request, the payment terms
related to the credit cover.
0110 DOC, Document/message details
A segment identifying the credit cover.
0120 MOA, Monetary amount
A segment giving the monetary amounts of the current credit
cover and one or more new credit covers.
0130 CUX, Currencies
A segment identifying the currency of the credit cover.
0140 DTM, Date/time/period
A segment specifying the dates related to the credit cover,
such as expiration date, date valid from or the order date
(latest shipment date).
0150 CCD, Credit cover details
A segment specifying a request for a credit cover, a reply
to that request and the reasons for the reply.
0160 PCD, Percentage details
A segment specifying the percentage of the own risk, related
to the credit cover.
0170 X PAT, Payment terms basis
A segment specifying the payment terms, as agreed between
seller and buyer.
0180 FTX, Free text
A segment specifying the response to the request, in coded
form.
0190 RFF, Reference
A segment identifying the order number, when necessary.
0200 UNT, Message trailer
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.
4.2 Segment index (alphabetical sequence by tag)
BGM Beginning of message
CCD Credit cover details
COM Communication contact
CTA Contact information
CUX Currencies
DOC Document/message details
DTM Date/time/period
FII Financial institution information
FTX Free text
MOA Monetary amount
NAD Name and address
X PAT Payment terms basis
PCD Percentage details
RFF Reference
UNH Message header
UNT Message trailer
4.3 Message structure
4.3.1 Segment table
Pos Tag Name S R
0010 UNH Message header M 1
0020 BGM Beginning of message M 1
0030 RFF Reference C 9
0040 DTM Date/time/period C 9
0050 ----- Segment group 1 ------------------ C 99----------+
0060 NAD Name and address M 1 |
0070 CTA Contact information C 1 |
0080 COM Communication contact C 5 |
0090 FII Financial institution information C 1-----------+
0100 ----- Segment group 2 ------------------ C 99----------+
0110 DOC Document/message details M 1 |
0120 MOA Monetary amount C 1 |
0130 CUX Currencies C 1 |
0140 DTM Date/time/period C 5 |
0150 CCD Credit cover details C 1 |
0160 PCD Percentage details C 1 |
0170 X PAT Payment terms basis C 1 |
0180 FTX Free text C 1 |
0190 RFF Reference C 1-----------+
0200 UNT Message trailer M 1
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UN Economic Commission for Europe
Palais des Nations, CH-1211 Geneva 10, Switzerland
Tel: +41-22 917 2016 Fax: +41-22 917 0037 E-mail: TradeMaster@unece.org
UN/EDIFACT Directories