The Study Of Accounts Receivable Asset Securitization Based On Commercial Factoring

This paper mainly discusses the financing problem of commercial factoring company by accounts receivable asset securitization.By illustrating the definition,categories and features, this paper fully observers the development of commercial factoring, the value of which is also studied from the angle of small enterprises financing.The development of domestic commercial factoring is far from ideal.Accounts receivable asset securitization, to some extent, alleviate the difficulty for the financing of commercial factoring company, offering theoretical reference for financing practice.Due to different underlying assets, asset securitization can be divided into many categories. Having received amounts of accounts receivable among enterprises, the commercial factoring company should conduct asset securitization corresponding to reality. This paper discusses the condition of accounts receivable which is suitable for asset securitization. Interpreting the participating role during asset securitization, this paper clearly conveys the significance and the risk of asset securitization, combining with the perspectives of domestic and foreign scholars. By setting some premises, this paper not only elaborately designs the transaction structure and the stimulation of cash flow,but also analyses the profit, maturity, and some other factors of issuance,playing a certain reference role in practice.Because in actual business, it is still challenging for single commercial factoring company to initiate asset securitization,this paper creates the transaction structure for the asset securitization of united commercial factoring company, and it even makes some breakthroughs in fields of product design,transaction process, and risk control. Moreover, with the domestic development of commercial factoring, this paper puts some forward opinions about accounts receivable asset securitization.