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.
To head, identify and specify a message.
To indicate the type and function of a message and to transmit the identifying number.
To specify a reference.
To specify date, and/or time, or period.
To specify the name/address and their related function, either by C082 only and/or unstructured by C058 or structured by C080 thru 3207.
To identify a person or a department to whom communication should be directed.
To identify a communication number of a department or a person to whom communication should be directed.
To identify an account and a related financial institution.
To identify documents and details directly related to it.
To specify a monetary amount.
To specify currencies used in the transaction and relevant details for the rate of exchange.
To specify date, and/or time, or period.
To request a credit cover, reply to that request and disclose the reason for the reply.
To specify percentage information.
To specify the terms of payment.
To provide free form or coded text information.
To specify a reference.
To end and check the completeness of a message.
