| 摘要: | Factoring，台灣稱之為「應收帳款承購業務」，中國大陸則稱之為「保理」，無論在台灣或中國大陸，辦理保理業務之保理商均以銀行為主，故承作保理業務均側重於融資；非銀行之保理商則以帳款管理、收款及承擔買方信用風險為服務，而承擔買方信用風險，僅在買方有破產、倒閉，及惡意拖欠且未主張商業糾紛等無法清償之情事，保理商始辦理擔保付款；惟若保理商辦理融資，當買賣雙方發生商業糾紛，致買方拒付帳款，則還款來源將有極大不確定性，且因保理融資額度多按買賣方間的交易量及交易條件估算，故保理(融資)額度多大幅超出賣方之信用承擔範圍，一旦賣方無力自行返還融資，則保理商將面臨極大經營風險，尤其是非銀行之保理商。
本研究採用個案探討法，透過理論與相關文獻探討，以及選擇的個案公司經營模式深入研究來進行。個案公司蘇州○○商業保理公司，為蘇州工業園區一家專業保理商，2016年開始籌畫設立。本研究主要探討“商業保理公司在中國大陸之經營模式探討”，先針對保理定義及業務進行介紹，並對世界及中國的保理市場環境進行分析，再進行個案研究，針對個案公司業務模式深入分析，希望對保理公司之業務方向與未來發展提出建議。
謹就個案公司的研究結論摘要如下：為規避風險，本研究建議商業保理公司之業務模式，應揚棄一般銀行以融資為取向之業務模式，回歸商業保理公司保理業務本質，以提供商業保理公司專業保理服務為主，即1. 應收帳款管理、2.應收帳款收款、及3.承擔買方信用風險。資金融通服務則委託銀行等機構辦理，尋求保理商及銀行均能接受之風險承擔範圍，或轉嫁與第三者，甚至積極介入買賣雙方交易條件變更，提供量身訂做的保理服務，為企業提供保理業務尋求切入點，以達成共識，創造雙贏局面。;Factoring is a financial transaction in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. This business is called as "accounts receivable acquisition business" in Taiwan. Factors are categorized as bank factors and non-bank factors. Bank factors, which provide financing role to the seller, are majority either in Mainland China or in Taiwan. Meanwhile, non-bank factors play their roles in managing and collecting receivables for their clients, and guarantee the accounts payable. In the events of bankruptcy or non-performing debts, factors are required to bear the losses. That is, if factors provide the financing services, they tend to be exposed to great risks, particularly for non-bank factors.
In this study, we employ the case study method to discuss and analyze the business models and risks that are associated with factors. This case is a non-bank factor in Suzhou Industrial Park, China, which is established in 2016. This study focus on the business models of factor in Mainland China. Firstly, this study introduces the factoring business and analyzes the factoring markets. Secondly, this study conducts in-depth analysis the business models for the case company. Finally, this study provides some suggestions for the business of factors for future development.
The conclusions of this study can be summarized as follows: In order to mitigate risk, this study suggests that non-bank factors should focus their business on providing pure factoring services: 1.managing receivables, 2.collecting receivables, 3.guaranteeing the accounts payable. Financing business should be provided by bank factors, rather than by non-bank factors. Further, trade terms between buyers and sellers should be negotiated under the assistances by factors and banks, to results in a win-win scenario. |
