(I) With the leasing assets as the carrier, the trust company issues the financial leasing pooled trust plan. Since 2002, innovative products between financial leasing and trust ------ financial leasing trust plan appeared, in which Foreign Economic and Trade Trust Company launched a 9-phase medical equipment financial leasing plan; Beijing International Trust and Investment Company launched a construction equipment financial leasing trust plan. The financial leasing trust plan has created a new profit model for the trust company. Obviously, the financial leasing trust program is feasible for trust companies from design to operation, and this business can become an important new source of profit. And with the rapid development of social economy in recent years for the use of equipment-intensive utilities, municipal facilities and other projects, financial leasing will bring huge financing opportunities in the future. Such as Shanghai's World Expo construction, it will be in the construction of large cost of equipment using financial leasing methods, with future earnings to reduce the current financial pressure.
The financial leasing trust program gathers the business advantages of two types of non-banking financial enterprises. Specifically, the trust industry has a wide range of sources of funds, in the collection of funds in the channel has a certain professional advantage, financial leasing trust plan for the trust company is more than one kind of financing subject, but also more than one kind of profit model. The financial leasing company has strong professionalism and expertise in the management and disposal of leased assets. For the trust company, the financial leasing business is safer than ordinary equity or debt investment because it owns the leased equipment and recovers the investment through rent.
(2) Separation of ownership and right to income, the trust company issued the equipment financial leasing assets income right trust plan. The development of financial leasing business must rely on strong capital as a backing, financial leasing companies can not rely entirely on their own funds to carry out financial leasing business, to external financing has become inevitable. However, the liability operation will increase the risk, as a financial institution of the financial leasing company, the risk control requirements will be higher than the general enterprise. Therefore, the law often restricts the assets and liabilities ratio of the financial leasing company, which makes its external financing scale subject to strict control. The financial leasing company can achieve the purpose of off-balance sheet financing by means of property trust. The specific practice is: the financial leasing company will be one or more of its financial leasing project rental income to form the financial leasing asset income right, the trust company initiates a trust plan to let the financial leasing asset income right, and the discounted value of the unrecovered rental book value of the equipment financial leasing asset as the subject of the letting of the financial leasing asset income right. The trust company then sells it to the trust investor, who enjoys a beneficial interest in the finance lease asset during the trust period. The trust company delivers the investor's purchase funds to the financial leasing company, and the financial leasing company thereby eliminates the financing liabilities of the corresponding items on its balance sheet. Thus, the purpose of off-balance sheet financing is achieved. In the whole link, the third party guarantees for the lessee, the equipment supplier makes the equipment repurchase commitment, and the financial leasing company guarantees for the lessee with the equipment ownership as a mortgage. The lessee, the guarantor, the equipment supplier and the financial leasing company*** bear the leasing risk together, so that the risk is fully dispersed among the parties concerned. For the financial leasing company, the trust company is introduced into the off-balance sheet business of the financial leasing company, which has obvious advantages: (1) the use of the funds obtained from the trust company for the investors to purchase the right to rental income to repay the loan is undoubtedly conducive to increasing the creditworthiness of the company and accelerating its bank loan cycle, which is equivalent to the increase of the credit line.
(2) As the investment principal and income are obtained in advance from the investors by trusting the rental collection right to the trust company, it is equivalent to accelerating the flow of funds of the financial leasing company and reducing the debt limit, thus enabling the financial leasing company to carry out new financial leasing business and to open up the new business in an unlimited manner.
In short, the above role of off-balance sheet financing accelerates the financial leasing company's capital flow, which in effect is equivalent to expanding the leasing business scale of the financial leasing company, solves the fundamental confusion of the financial leasing company's development of the financial leasing business, and provides unlimited development of new opportunities for the development of new business. At the same time, the trust company has also found a new carrier for cooperation with the financial leasing company, which on the one hand is conducive to improving the leasing professional management skills of the trust company. On the other hand, financial leasing does not involve equity investment or debt investment, which is easier to be accepted by the market. Moreover, in the whole process, there is a third party guaranteeing for the lessee, an equipment supplier making a commitment to repurchase the equipment, and a financial leasing company guaranteeing for the lessee with the ownership of the equipment as a collateral. The lessee, the guarantor, the equipment supplier and the financial leasing company*** bear the leasing risk together, and the multiple risk control measures make the risk fully dispersed among the parties concerned, which makes the trust investment method safer.
(C), the trust join hands with leasing, realize the enterprise's accounts receivable trust management. Any production enterprises are inseparable from the investment needs of the equipment, the traditional by installment sales of the formation of claims, equipment sales manufacturers can be entrusted to the trust company to manage the receivable claims, and the trust company, if the lessor's support, you can take the equipment sales of receivable claims discounted or discounted strategy, to the equipment manufacturers of the debt into the leasing company lease debt. This allows the equipment vendor to reduce its receivables and collect funds in a timely manner. The debtor can obtain a variety of benefits such as extended loan repayment periods and equalized tax liabilities without increasing the debt burden. The trust company, on the other hand, joins hands with the leasing company to reap the benefits by providing fiduciary management services of accounts receivable and receiving the spread.
In this model, the trust company mainly embodies the use of leasing platform to realize the asset management function of the trust. In the West, the trust-based management of enterprise accounts receivable is a common form of outsourcing accounts, but also an effective way to achieve rapid development of enterprises.
The above three modes are the introduction of financial leasing function by the trust from different angles and different entry points.