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 CO82 only and/or unstructured by CO58 or structured by CO80 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, either printed, electronically transferred, or referenced as specified in message description, including, where relevant, the identification of the type of transaction that will result from this message.
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 payment terms basis.
To provide free form or coded text information.
To specify a reference.
To end and check the completeness of a message.
