Financial leasing risk in the end how to control, how to protect their own rate of return
Introduction: Do you know how financial leasing in the end how to control the risk? How to protect their rate of return? Here is the relevant knowledge information, welcome to read and learn.
Creditor earnings
1, financial leasing company, to carry out full repayment of the financial leasing business, to obtain the spread and rental interest income is of course its most important mode of profitability.
2, the use of financial leasing way to allocate credit funds, for small and medium-sized enterprises, you can control the risk by increasing interest rates or leasing rates, for high-quality customers can not have to reduce interest rates. Because the accounting and tax treatment of leasing is different from that of loans, the actual financing costs for customers are not higher or not much higher than loans.
Residual value earnings
1, to improve the residual value of the leased property disposal proceeds, not only is the financial leasing risk control measures, but also one of the financial leasing company's important profit model.
2, the manufacturer's professional financial leasing company on the equipment with maintenance, remanufacturing expertise and a wide range of customer groups, can provide a full range of financial leasing services, especially customers welcome the operating lease business. Residual value disposal of leased property should not be a risk for professional financial leasing companies, but a new profit regeneration point.
3. According to the transaction conditions and performance of the financial leasing contract and the actual proceeds from the equipment recovery for re-leasing and re-sale after deducting the rent receivable, maintenance and other related expenses, the proceeds of the residual value are generally around 5-25%, and the proceeds from some of the large-scale general-purpose equipment, such as airplanes and ships, will be a bit higher.
Service revenue
1, leasing fees. Leasing service charges when all financial leasing companies have a contract management service charges.
2, financial consulting fees. Financial leasing companies in some large projects or equipment financing, will provide customers with comprehensive financing solutions, will be charged a certain percentage of the financing amount of financial consulting fees or project success fees. Generally in the 0.25-5% or so financial consulting fee can become a professional investment institutions set up by independent institutions of the financial leasing company in the development of leasing asset securitization, financial leasing and trust, bonds and financial leasing portfolio, relay services in one of the important means of profitability.
3, trade commissions. Financial leasing companies as the purchase of equipment and investment, to promote the circulation of equipment, so that manufacturers and suppliers to expand the market scale, to achieve the direct return of sales.
4, service portfolio charges. Manufacturer background of the financial leasing company in the financial leasing contract will provide accessories and certain supplies supply, inspection, professional training and other services.
Operation benefits
1, financing and operation. Financial leverage? Financial leasing company operating funds can make the source of multi-channel, own funds in the operation, you can get a higher than the same period of the loan rate of return. Capital co-ordination and utilization? The rental rate of financial leasing is generally equal to or higher than the same period of the lending rate, but the financial leasing company as a platform for capital operation, in the actual operation of capital financing, can be based on the company in different periods of time to purchase the contract of external payment, in the implementation of financial leasing contract rental return and external repayment of the maturity of the borrowing of the degree of matching the cash flow of the specific circumstances, to decide on the amount of new financing and the period, safe and reasonable access to capital utilization and capital operation. Reasonable access to the difference between the use of funds and capital raising revenue.
2, product portfolio services. Financial leasing companies to strengthen cooperation with other financial institutions, in the financing, accelerate the turnover of assets, dispersal of business risks and profit model of the four aspects of the development of different product mix and product relay, can also get a good return.
3. Scale efficiency. Scale operation is a financial leasing company to improve the return on investment of shareholders important initiatives.
Tax saving gains
In mature market economy countries, non-full repayment of financial leasing business often accounts for a large proportion of all financial leasing, especially professional financial leasing companies with manufacturer background can reach 60% to 80%.
1, in the financial leasing company has a certain amount of pre-tax profit under the premise of the financial leasing company to use the operating lease way to lease their own needs of office space, vehicles, information equipment, rent in the pre-tax charge to see, you can get the benefits of tax savings.
2, the operating lease services for customers, the lessor of the leased property extraction to do pre-tax deductions, you can get delayed tax.
Risks and benefits
1, contingent rent
Contingent rent is the amount is not fixed, based on factors other than the length of time to calculate the rent. Contingent rent can be directly charged as an expense before tax when it actually occurs. The financial leasing company has increased risk and may obtain a greater return.
2, convertible leasing debt
Conducting convertible leasing debt business is a new investment approach taken by professional investment institutions to control investment risks and obtain investment returns.
20 Questions on Financial Leasing Risk Management
1. What are the financial risks of financial leasing business
A: The financial risks of financial leasing business mainly include
1. Liquidity risk (analyze the liquidity gap);
2. Interest rate risk (analyze the interest rate gap, duration);
3. Exchange rate risk (analyze the exchange rate loss).
4. Tax risk (omission, wrong payment risk);
5. Market risk (the risk of fluctuations in the value of long and short-term investments);
6. Internal control risk of the financial staff;
7. Financial system, financial data operation risk.
2. How to reduce the risk of depreciation of leased property
A: To reduce the risk of depreciation, the focus is to carry out the project and financial and economic feasibility studies, and to do a good job of investigation and prediction of similar products.
Usually, the lessee will be based on the market quotations and the trend of development, based on a full understanding of the technical level of the leased property and the speed of renewal and replacement of the leased property, the selection of the leased property. In the financial leasing transactions, the leased property is generally selected by the lessee, but the financial leasing company in the conditions allow, should also be the leased property of the technical situation of the necessary investigation and prediction, because the leased property of the technology is too backward, will be very eliminated due to the technological update, which leads to a decline in the lessee's ability to pay rent, affecting the financial leasing company's rental interests.
3. What is the biggest risk to the lessor?
A: For the lessor, the biggest risk is the lessee's ability to pay back the rent, which directly affects the leasing company's operation and survival, therefore, the risk of paying back the rent from the beginning of the project, it should be highly concerned.
4. Who bears the risk of destruction and loss of the leased property in financial leasing?
A: The risk of loss of the leased object is mainly guaranteed by insurance. (Excluding loss caused by human factors)
In the procurement and transportation links in the transportation insurance, once the destruction and loss of the insurance company is responsible for; in the use of links in the property insurance, water damage insurance once the destruction and loss of the insurance company is responsible for.
There is also a credit insurance, insurance, once the damage occurred in the event of loss of the lessee's inability to pay the rent by the insurance company to pay claims. According to the rules of the trade, all the insurance costs are paid by the lessee, and the beneficiary is the leasing company.
5, financial leasing company reputation risk in which links?
A: Reputation risk may arise in any part of the lessor's operation and management, usually with credit risk, market risk, operational risk, liquidity risk, legal risk and other cross-existence and interaction.
Therefore, the office takes the lead in organizing the company's reputational risk investigation, and all departments and subsidiaries investigate the reputational risk in their respective areas, identify potential reputational risk and report to the office.
6, what are the exchange rate risks in financial leasing?
A: In export business, foreign currencies are usually used as payment and settlement currencies. The cycle of financial leasing will generally cover the normal life cycle of the subject matter, with a large time span. During the period, if the local currency appreciates against the foreign currency, then the rental income received in foreign currency will shrink when carried forward to the local currency. This is exchange rate risk and conversely, if the local currency depreciates against the foreign currency, the rental income will be at a premium. The opposite is true for import operations as for export operations.
7, leasehold ownership needs to avoid what risks
A: mainly consists of two aspects
① sale risk: a business owns an asset such as for some reason to be off, often to suffer a certain loss, at a price lower than the price of the purchase in the market off.
② technological obsolescence risk: an enterprise has the equipment may be more advanced due to the emergence of similar equipment, or due to technological advances to make the same equipment price decline and depreciation, so that the enterprise suffered losses.
8. Leased assets exit risk
Although the main business model of the financial leasing company is not a short-term leasing service of equipment, it is inevitable that the lessee will return to the leased property due to breach of contract or return to the leased property at the end of the operating lease.
Therefore, the financial leasing company in the development and implementation of the leasing program, as far as possible to ensure that the lease receivable claims are less than the `asset value of the financial leases, is to reduce the risk of leased assets to exit the prerequisite, but the actual operation of how to dispose of these leases, to avoid the loss of disposal, to recover the leasing investment and to achieve profits is an unavoidable problem of risk control. The financial leasing company can sign a strategic cooperation agreement with the equipment manufacturer and entrust the manufacturer to repair and re-sell the recovered leased goods, or carry out the financial leasing of second-hand equipment through the financial leasing company, and bear the risks and returns according to the principles agreed in advance. Financial leasing companies can also establish cooperative relationships with professional auction companies and used equipment markets.
9, the risk of invalidity of the financial leasing contract
A: 1. Confirmation of valid contract provisions
China's "Contract Law" carefully draws on the international conventions and the experience of many countries on the legislation of the financial leasing, financial leasing as a listed contract chapter of the legislation. Financial leasing contract is valid must satisfy the Chinese People's *** and State Contract Law, Article 237 provides: ? The financial lease contract is the lessor according to the lessee's choice of seller and leased goods, to the seller to buy the leased goods, provided to the lessee to use, the lessee pays the rent of the contract.?
Because the financial leasing contract is the product of financial leasing transactions, and thus its main features are also determined by the specificity of financial leasing transactions. Financial leasing contract is by the sale contract, leasing contract two contracts, three parties (i.e.: lessor, lessee, seller) of the transaction. These two contracts often present the effects of each other intertwined, because of this, the financial lease contract has become an independent famous contract, recognized in the law.
2. Confirmation of the invalidity of the contract after the treatment
Financial leasing contract is recognized as invalid, should be divided into the following cases were dealt with: (1) due to the lessee's fault caused by the contract is invalid, the lessor does not require the return of the leased property, the leased property can not be returned; (2) due to the lessor's fault caused by the invalidity of the contract, the lessee requests the return of the leased property, the leased property can be returned, the leased property can be returned. Can return the leased goods, if any loss, the lessor shall compensate for the corresponding loss; (3) due to both sides of the **** the same fault caused by the invalidity of the contract, can return the leased goods, and according to the size of the fault each bear the corresponding responsibility. Leased goods are in use and play a role in the benefits of the leased goods whether or not to return, can be negotiated to solve the consultation fails, the people's court in accordance with the actual situation to make a judgment.
10, what are the main risks before the lease?
A: Be sure to determine the possibility of repayment, you can analyze the financial aspects:
A, analyze the short-term solvency of the enterprise; B, analyze the long-term solvency of the enterprise; C, analyze the enterprise financial trends and trends in debt repayment; D, the results of the preliminary judgment classification.
When the lessee's key financial indicators are lower than the average level of the industry or have declined significantly, the leased assets are classified at least as a concern.
11. What risks may arise in the operation of the project?
A: 1, significant changes in economic activity, in production, semi-suspension or business stop state.
2, the main data in the industry statistics show adverse changes or trends.
3, part-time management of unfamiliar business, new business or business in unfamiliar areas.
4. The product is single or cannot adapt to market changes or changes in customer needs.
5. Decreased control over inventory, production and sales.
6, in the supply chain in the status of the relationship has changed, such as suppliers no longer supply or reduce.
12, how to classify the risk of leasing business?
A: generally take three levels of validation system. That is, the project manager as a direct evaluator of the project to assess the risk level, department managers as risk reviewer of the project to carry out a hierarchical review, the leaders in charge of the project as a risk validator to carry out the final risk rating.
13, financial leasing business how to develop the corresponding disposal plan?
A: 1, the organization of a comprehensive investigation of the project at risk, that is, the amount of the project at risk at a certain point in time as the basis for a comprehensive investigation of the basic situation of the customer, the customer's assets and leases, the customer's liabilities and bank loans, loan guarantees, and other factors affecting the return of the money and the disposal of the project at risk, and so on, to find out the current situation of the project at risk, to understand the effective assets and the ability to repay, and to reveal the risk of the project at risk, and to make sure that the project at risk is not a risky one. The comprehensive survey is conducted in principle once every quarter. In principle, the comprehensive survey is conducted once a quarter.
2. Valuing the insured projects on the basis of the survey, according to the reasons for their formation, duration, form and condition of the leased property, and taking into account the socio-economic conditions of the client's place of origin of the insured project, the market environment, and the differential rent, etc., the value of the insured projects is assessed in a scientific and fair manner, and the expected amount of the insured project to be recovered and the rate of compensation are measured.
3. According to the information of investigation and asset valuation, formulate the restructuring and transformation or liquidation and disposal plan of the insured projects; according to the trend prediction of the risk, determine the degree of urgency and sequence of disposal, formulate the liquidation and disposal measures in a targeted manner, and report the plan to the management of the Company for consideration and approval.
14, what is the term mismatch risk of financial leasing?
A: term mismatch is a long-term loan into several short-term loans, the risk is that if the platform lacks follow-up investment funds, the need for the platform to make advances, easy to cause a break in the capital chain. The general term of the financial leasing project are longer, usually more than 3 years, and the P2P lending platform financial leasing products are mostly between 6 months and 1 year. As P2P lending investors prefer short-term investment, so in addition to the platform to try to choose short-term projects, there is a platform to split the project term risk.
15, the quality of the leased goods defective lessee how to do?
A: Combined with the judicial interpretation of the 18th, 19th and other relevant provisions, the lessee can be in the occurrence of quality problems, financial leasing contracts or in the contract of sale and purchase of the agreement can only be exercised by the lessor of the seller's right of claim, or there is a lessor to intervene in the choice of the leased property or to determine the circumstances of the leased property directly, or the signing of the lessor of the leased property has a quality defects without informing the lessor, the seller reacted to the written The lessor shall notify the seller in writing of its claim against the seller at the same time as it responds in writing to the seller.
16, financial leasing business risks can be resolved and transferred?
A: The lessor's ability to control risk is limited, you can rely on social forces, their advantages integrated into the risk control system. For example, property insurance, credit guarantee, credit insurance and accounts receivable insurance. They can break down business risks into social risks and let social forces bear the risks for the business.
Some risks are temporary, and if handled properly, not only can they be avoided, but they can also benefit from them. For example, some lessee enterprises have better credit, but for some reason encountered temporary difficulties, if the market is still there, the cash flow is still there, by slowing down the collection of rent, provide working capital loans under the lease and other ten thousand ways to help the lessee enterprises to tide over the difficulties, but also to protect the lessor's lease claims.
17, how to prevent the risk of false financial data of the lessee?
A: The debtor's industry position, operation and profitability level should be compared with reference to the industry, to make a question mark, think more. To determine the real solvency of the lessee, pay special attention to the form of assets and water, and beware of false big empty company transactions. In particular, the real status of the debtor's net assets, including the absolute number and the proportion of liabilities (i.e., the credible asset-liability ratio), the existence of the state and physical form, whether or not it is possible to set up a mortgage and so on. Net worth is the last line of defense against risk.
18, how to avoid the lessor due to the lessee's non-payment of rent to terminate the contract, the recovery of leased property when a huge amount of compensation for the termination of the risk?
A: (1) provide the basis for stating that the contract is the lessor for repeated use of the designated format contract, such as providing the lessor's other financial leasing contracts, requiring the contract in accordance with the principle of unfavorable to the lessor to understand the agreement on termination of the contract compensation, and even require that due to the relevant agreement is invalid according to the actual compensation.
(2) Try to avoid arrears of rent, even if it is paid in arrears, try to negotiate with the lessor to avoid being terminated.
(3) Since the termination of the contract, the remaining rent should not be paid (see Article 21 of the judicial interpretation).
(4) The liquidated damages for rescission are too high to exceed the amount of unpaid rent, etc., prior to rescission less the value of the repossessions (see Article 21 of the Judicial Interpretation).
19, financial leasing company internal risk control?
A: The current enterprise for staff control is mainly manifested in: 1. reasonable and scientific selection and appointment of qualified staff, 2. the implementation of these staff carefully position design
This is mainly due to the financial leasing industry, which itself has a relatively high risk, so a higher quality of workers, first of all, to have a better Professional ethics and quality, followed by a solid professional knowledge and skills, at the same time, good psychological quality is also an essential foundation, can effectively grasp the market is the direction of its efforts. Enterprises can use staff training to help them understand and familiarize with the current financial leasing enterprise risk control and related management system, so as to strengthen their knowledge of the market, and improve the loyalty of employees to the enterprise.
20. What are the risks of purchasing leased assets?
A: In the financial leasing business, the lessee exercises the right to choose the leased goods and suppliers, but also need to pay attention to the choice of leased goods and suppliers. The lessor has the veto right to do or not to do.
Financial leasing is a financing behavior with the object as the carrier, the inflated purchase price of the leased object will inevitably bring the price of the leased object does not match the value of the risk; greed for the ocean, too much investment, leased object configuration is unreasonable, quality problems will affect the lessee's use of the impact of repayment of the rental performance; leased object supply pipeline links are too many or a skin bag company, it will affect the leased object's after-sales service, accessories supply, the same will affect the leased object. After-sales service, accessories supply, will also bring negative impact on the normal fulfillment of the financial leasing contract. The leasing company should establish long-term cooperation agreements directly with professional manufacturers to reduce unnecessary intermediate links and understand the market conditions of the equipment. For technological reform projects and unfamiliar industries, we must understand and verify the rationality of the equipment selection and process configuration of the project by all means, and put forward the feasibility study report of the ? Approvability? The component.
;