Taking the borrower's pledge financing with its own movable property warehouse receipts as an example, the basic process
(1) The borrower and the borrower discuss and clarify the requirements for warehousing acceptance and protection, and deliver the goods to the warehouse of the logistics enterprise accordingly, and the logistics enterprise will confirm the receipt. At the same time, the borrower applies to the designated insurance company for warehousing goods insurance, and designates the first beneficiary as the bank.
(2) When the borrower applies for a loan, the bank receives the contents of the actual warehouse receipt (mainly including the quantity, etc.). ).
(3) After the approval of the bank, the borrower, the bank and the logistics enterprise sign a tripartite cooperation agreement on warehouse receipts. The warehouse receipt is pledged and endorsed to the bank.
An irrevocable letter of guarantee to assist the bank to exercise the pledge right, and to determine the respective responsibilities of both parties.
(5) The borrower and the bank sign the Bank-Enterprise Cooperation Agreement and the Account Supervision Agreement, and stipulate the responsibilities of both parties in the contract. The Borrower shall open a supervision account in the bank according to the requirements of this Agreement.
(6) After the warehouse receipt is approved, the money will be paid to the supervision account on the basis of complete agreements and procedures.
(7) During the period of goods pledge, the logistics enterprise shall supervise the pledged goods according to the provisions of the contract and strictly control the goods according to the procedures of the three-party warehouse. Logistics enterprises only receive outbound instructions from banks.
(8) The borrower shall deposit the recovered money into the supervision account.
(9) After the bank receives the repayment, it issues the bill of lading, and the logistics enterprise releases the goods according to the bill of lading issued by the bank. The business is not over until the borrower pays off all the loans.
(10) If the borrower breaches the contract or the price of the pledged goods falls, the borrower fails to issue instructions on additional guarantee disposal to the logistics enterprise in time.
(1 1) After receiving the disposal instruction, the logistics enterprise will auction or buy back the goods according to their nature, so as to withdraw the funds.
Second, what is the operation process of warehouse receipt pledge pawn?
Warehouse receipt pledge pawn is mostly used for bulk commodities such as steel, nonferrous metals, ferrous metals, building materials and petrochemical products. Because the warehouse receipt pledge pawn business involves the interests of warehousing enterprises, shippers and banks, it needs a set of rigorous and perfect operation procedures. First of all, individual industrial and commercial households and pawn shops signed a pledge pawn agreement and an account supervision agreement; Warehousing enterprises, individual industrial and commercial households and pawn shops sign warehousing agreements; At the same time, the warehousing enterprise signed an irrevocable portrait guarantee with the pawnshop to exercise the pledge right. Secondly, individual industrial and commercial households deliver goods to the designated warehouse according to the agreed quantity. After receiving the notice, the warehousing enterprise will issue special warehouse receipts after confirming the experience of the goods; Individual industrial and commercial households pledge and endorse special warehouse receipts on the spot. After being signed by the warehouse, the individual industrial and commercial households deliver them to the pawnshop for warehouse receipt pledge pawn. Third, the pawnshop will sign a payment contract and a warehouse receipt pledge contract after the audit, and lend money to the supervision account opened by individual industrial and commercial households in the bank according to a certain proportion of the warehouse receipt value. Finally, when normal sales are realized during the loan period, the full amount of the payment will be transferred to the supervision account, and the pawnshop will distribute the money to individual industrial and commercial households according to the received money, and the warehouse will deliver the goods after verification according to the agreed requirements. After the payment is returned at maturity, the balance can be dominated by individual industrial and commercial households.
3. How do logistics companies pledge warehouse receipts?
1. Principles for developing warehouse receipts
Carrying out warehouse receipt business plays an important role in improving the utilization efficiency of market resources and accelerating and expanding the production scale of enterprises, but the following principles should be followed:
(1) First of all, it must comply with national laws and regulations. To carry out warehouse receipt business, it is necessary to operate legally, and the loan business conforms to the national credit policy. At the same time, the formalities of warehouse receipts should be legal, and the borrower's credit review, repayment ability, the use of credit funds, whether the loan procedures are complete, the borrower's business volume, the legality of the supply of goods and other related matters should be reviewed and tracked in advance to ensure that every link does not go wrong.
(2) Risk prevention principle. Warehouse receipt business is a form. Because the standard warehouse receipt circulating in the futures market is pledged by the borrower, its risk coefficient is relatively small. However, banks may face the following risks: the market price of commodities is always in the process of ups and downs, and the value of corresponding warehouse receipts is constantly changing. If the bank overestimates the collateral, the borrower may not actively repay the loan; In the supervision of pledged goods, the information asymmetry, information distortion or information lag between the warehouse and the bank will lead to the decision-making mistakes of either party, resulting in the supervision risk of pledged goods and so on.
(3) The principle of strict qualification examination for borrowers. It is one of the regular loan businesses of commercial banks, and it is also a way for commercial banks to obtain profits. Banks should pay attention to safety, liquidity and profitability. The economic risk of warehouse receipts is low, but banks must carefully select and review the loan objects before handling loans.
2. Business process of warehouse receipt
As shown in the figure, briefly introduce the process of warehouse receipt pledge. First of all, the owner (borrower) signs a bank-enterprise cooperation agreement and an account supervision agreement with the bank. The warehousing enterprise, the consignor and the bank sign a warehousing agreement; At the same time, the warehousing enterprise signed an irrevocable letter of guarantee with the bank to assist in exercising the pledge.
The consignor will store the goods in the warehouse according to the agreed quantity. After receiving the notice, the warehousing enterprise will inspect and confirm the goods, and then issue a special commodity warehousing certificate-warehouse receipt to the consignor of the inventory; The owner pledges and endorses the special warehouse receipt on the spot, and after the warehouse is sealed, the owner applies for a loan from the bank with the warehouse receipt; The bank verifies the details of the goods stored by the consignor to the warehouse, including the variety, quantity and quality of the goods and the situation of the goods, and decides whether to provide them to the consignor and the amount; Hand over the goods approved by the bank to the warehouse agent for supervision; Finally, the specific item disposal.
3. Advantages and risks of warehouse receipt pledge
Warehouse receipt pledge business is a new business with the nature of multilateral win-win. First, allowing customers to make use of the commodities in the market can solve the financing problem of enterprises, strive for more working capital, achieve scale operation and improve economic benefits. Second, the warehouse cooperates with the bank to supervise the goods of customers in the bank. On the one hand, it will increase supporting service functions, attract more consignor enterprises to settle in, increase the added value of warehousing, improve the utilization rate of warehouse space, and enhance the comprehensive value and competitiveness of enterprises; On the other hand, as the third party trusted by banks and customers, warehouses can be better integrated into customers' commodity production and marketing supply chains, which is conducive to the business integration of logistics enterprises and strengthening the alliance with banks. Third, the bank issues, and the warehouse is responsible for pledging materials, which not only lends money but also attracts depositors and fosters new economic growth points; Because the goods are used as collateral, the risk of the loan is greatly reduced, the risk is avoided and new economic benefits can be generated.
Warehouse receipt business is one of the profit sources of commercial banks and other financial institutions, and credit risk is one of the main risks faced by lenders. Commercial banks must develop credit business, and at the same time, they must ensure that the principal and interest of loans are recovered on time, and no bad debts can occur. Warehouse receipts are securities with high credit, corresponding to high-quality goods, including credit guarantees for quality and quantity from delivery warehouses and futures exchanges, but low risk does not mean that there is no risk. The process of warehouse receipt pledge includes the following risks:
(1) Customer credit risk. The customer's business ability, business volume, the legitimacy of the source of goods (smuggled goods are at risk of confiscation), the quality of goods and many other aspects are potential risks of the warehouse.
(2) Warehouse receipt risk. Warehouse receipts are delivery documents, which are both valuable securities and property rights securities. However, at present, warehouse receipts are not standardized enough. For example, some warehouses even use warehouse receipts as pledge vouchers and bills of lading as delivery vouchers. Therefore, there must be scientific management procedures to ensure the uniqueness of warehouse receipts and the nature of property certificates.
(3) The risk of collateral selection. Not all goods are suitable for warehouse receipt pledge, because in a certain period of time, the price and quality of goods will change at any time, which means there will be a certain degree of risk. Therefore, we should choose varieties with stable quality, such as ferrous metals, non-ferrous metals and soybeans.
(4) Commodity supervision risk. In terms of the supervision of pledged goods, warehousing enterprises must effectively supervise the types, quantities and varieties of pledged goods, do a good job in moisture-proof and mildew-proof security, strictly guard against the damage and poor quality of goods, and strictly check the goods in and out of the warehouse to prevent the risk of losses caused to warehouse receipt holders due to poor storage.
(5) Internal management and operational risks. Many warehouses have a low degree of informatization and remain in the manual operation stage, which will increase the probability of internal crimes and operational mistakes and form management and operational risks.
4. Countermeasures to control risks
(1) Establish and integrate customer and bank credit. Customer credit risk, warehouse receipt risk and commodity supervision risk are all closely related to credit. As a service platform to contact shippers and financial institutions, third-party logistics needs to establish and integrate these credits when undertaking warehouse receipt pledge business. As the agent of the owner, the third party logistics company supervises the goods in the warehouse. Therefore, the third-party logistics company should establish credit with the owner. The development of banking business is based on the authenticity and validity of warehouse receipts and the trust in warehouse supervision of third-party logistics companies. Therefore, the establishment of credit is based on the strength of third-party logistics companies. Third-party logistics companies can use the relationship of mutual trust to carry out warehouse receipt pledge business and complete credit integration.
(2) Strengthen warehouse receipt management. Warehouse receipt is a certificate of deposit issued to the depositor to explain the inventory situation after the warehouse accepts the goods stored by the depositor. This certificate of deposit has special functions and special functions-effective securities. That is, warehouse receipts can be used as a kind of securities to pledge, realize financing, assist in completing spot transactions, improve transaction efficiency and reduce transaction costs. It is an important legal basis and evidence for the warehouse receipt pledge business. Therefore, the management of warehouse receipts is the most urgent problem to be solved.
(3) Limit the scope of the pledge and determine the price. When carrying out warehouse receipt pledge business, the owner hopes that the variety, quantity and standardization of pledged goods can be unrestricted; For banks and warehouses, it is required to limit the collateral. Because third-party logistics companies should consider whether their storage capacity and management level can meet the needs of customers, and cooperate with banks to do a good job of limiting goods. Limited by storage conditions, at present, some warehouses that carry out this business basically try to choose goods that are widely used, easy to dispose of, have a small fluctuation range and are not easy to deteriorate. With the progress of science and technology and rich management experience, the types of goods that can be used for warehouse receipt pledge will continue to increase. The comprehensive evaluation and determination of commodity value should consider three aspects: first, the credit and strength of customers themselves, second, the attributes of commodities themselves, and third, the market price fluctuation of such commodities in recent years. At present, this price is determined by the bank, and warehousing, as a trusted agent of both parties, should also play a role of adjustment and reference in the process of determining the price. With the deepening of warehouse receipt pledge business, banks have higher and higher trust in warehousing, and it is very likely that the price will be determined by warehousing.
5. Supervise and dispose of the pledged goods. As a reliable third party between banks and customers, third-party logistics companies play a special role in the supervision and disposal of goods and bear special responsibilities. Therefore, when conducting warehouse receipt pledge business, we should try our best to complete the procedures and exercise our rights in strict accordance with the contract.
In the process of warehousing, we must first sign a "warehousing agreement" with the customer enterprise, clarify the warehousing acceptance and maintenance requirements of the goods, and issue a special warehouse receipt that clearly shows that the goods have been mortgaged to the bank; And apply to the designated insurance company for insurance of the stored goods to ensure that the insurance company can compensate for the damage of the stored goods. Secondly, it is necessary to sign an "irrevocable letter of guarantee" with the bank to help the bank exercise its pledge right, so as to ensure that the warehouse receipt is consistent with the goods warehousing and the procedures are complete; During the pledge period, the goods shall not be delivered to the borrower or any third party without the consent of the bank; Do not obstruct, interfere with or hinder the bank from exercising its pledge right on the grounds that depositors have not paid the relevant custody fees; Under the supervision of the bank, the customer should take delivery of the goods with the position sheet.
In the process of commodity disposal, it should be handled according to the specific situation. First, the loan has not yet expired. As the market price fell, the bank informed the borrower to increase the risk margin. If the borrower still fails to fulfill the additional obligations within the date and time limit determined by both parties, the bank may entrust a third party (probably warehousing) to reduce the price of unsold goods according to the current market price in a certain proportion, so as to realize sales as soon as possible and recover the loan principal. Second, when the loan expires, but the sales income in the supervision account is not enough to repay the loan principal and interest, and there is no other source of funds as a supplement, the bank can also entrust a third party (probably warehousing) to realize the sales processing of the corresponding quantity of stored goods at a certain proportion according to the current market price until the loan principal and interest are recovered. The disposal of goods pledged by warehouse receipts is greatly influenced by the market, and it is necessary for all parties to sign an agreement in advance to clearly define the disposal method to ensure the interests of all parties.
6. Accelerate the informatization construction of warehousing enterprises. In the process of warehouse informatization, management and business processes will be continuously improved and optimized. The informatization of warehousing can be divided into two parts: the informatization of internal management process; Information technology in cooperation with partners, customers and regulators. Internal informatization can optimize its "warehousing logistics" and better complete internal management and operation; The informatization of cooperative operation is to optimize its logistics network and service system. Informatization reduces the crimes and operational mistakes of insiders, improves work efficiency, improves the efficiency of information communication and sharing with customers and banks, reduces the risks of warehousing and banks, facilitates the supervision of warehousing by banks, and improves the logistics services provided to customers.
4. What is the process of warehouse receipt pledge?
First, the client (borrower) signs a bank-enterprise cooperation agreement and an account supervision agreement with the financial institution; Warehousing enterprises, consignors and financial institutions sign warehousing agreements; At the same time, warehousing enterprises sign irrevocable letters of guarantee with financial institutions to assist in exercising the pledge right.
The consignor delivers the goods to the designated warehouse according to the agreed quantity, and the warehousing enterprise will issue a special warehouse receipt after receiving the notice to confirm the experience of the goods; The consignor pledges and endorses the special warehouse receipt on the spot, and after the warehouse signs and seals, the consignor delivers it to the financial institution to apply for the warehouse receipt.
After the financial institution has audited, it will sign a loan contract and a warehouse receipt pledge contract, and lend money to the supervision account opened by the owner in the financial institution according to a certain proportion of the warehouse receipt value.
When normal sales are realized during the loan period, the full amount will be transferred to the supervision account, and the financial institution will issue a sub-bill of lading to the owner according to the received amount, and the warehouse will deliver the goods after verification according to the agreed requirements; After the loan is returned at maturity, the balance can be controlled by the owner (borrower).