United Nations Directories
for Electronic Data Interchange for
Administration, Commerce and Transport
UN/EDIFACT
| United Nations Directories for Electronic Data Interchange for Administration, Commerce and Transport UN/EDIFACT |
Message Type : RECECO Version : D Release : 16B Contr. Agency: UN Revision : 2 Date : 2016-10-28 SOURCE: TBG5 Finance 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 --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 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. 00010 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 16B 0051 UN 00020 BGM, Beginning of message A segment specifying the function and status of the message. 00030 RFF, Reference A segment identifying the reference of another message or transaction related to this message. 00040 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. 00050 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. 00060 NAD, Name and address A segment identifying the name and address of the parties associated with the credit risk cover message. 00070 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. 00080 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. 00090 FII, Financial institution information A segment identifying the financial institution (e.g. bank) and relevant account numbers for the parties involved, where necessary. 00100 Segment group 2: DOC-MOA-CUX-DTM-CCD-PCD-PYT-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. 00110 DOC, Document/message details A segment identifying the credit cover. 00120 MOA, Monetary amount A segment giving the monetary amounts of the current credit cover and one or more new credit covers. 00130 CUX, Currencies A segment identifying the currency of the credit cover. 00140 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). 00150 CCD, Credit cover details A segment specifying a request for a credit cover, a reply to that request and the reasons for the reply. 00160 PCD, Percentage details A segment specifying the percentage of the own risk, related to the credit cover. 00170 PYT, Payment terms A segment specifying the payment terms, as agreed between seller and buyer. 00180 FTX, Free text A segment specifying the response to the request, in coded form. 00190 RFF, Reference A segment identifying the order number, when necessary. 00200 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 PCD Percentage details PYT Payment terms RFF Reference UNH Message header UNT Message trailer
4.3 Message structure 4.3.1 Segment table Pos Tag Name S R 00010 UNH Message header M 1 00020 BGM Beginning of message M 1 00030 RFF Reference C 9 00040 DTM Date/time/period C 9 00050 ---- Segment group 1 ------------------ C 99---------------+ 00060 NAD Name and address M 1 | 00070 CTA Contact information C 1 | 00080 COM Communication contact C 5 | 00090 FII Financial institution information C 1----------------+ 00100 ---- Segment group 2 ------------------ C 99---------------+ 00110 DOC Document/message details M 1 | 00120 MOA Monetary amount C 1 | 00130 CUX Currencies C 1 | 00140 DTM Date/time/period C 5 | 00150 CCD Credit cover details C 1 | 00160 PCD Percentage details C 1 | 00170 PYT Payment terms C 1 | 00180 FTX Free text C 1 | 00190 RFF Reference C 1----------------+ 00200 UNT Message trailer M 1