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Credit risk cover message

Contr. Agency:UN
SOURCE:Joint Banking Group (JM6)

Credit risk cover message
  2. SCOPE
    1. Functional definition
    2. Field of application
    3. Principles
    1. Standard terms and definitions
    1. Segment clarification
    2. Segment index (alphabetical sequence by tag)
    3. Message structure
      1. Segment table

For general information on UN standard message types see UN Trade Data Interchange Directory, UNTDID, Part 4, Section 2.3, UN/ECE UNSM General Introduction

This message also occurs in the following versions of this standard:
D94B, D95A, D95B, D96A, D96B, D97A, D97B, D98A, D98B, D99A, D99B, D00A, D00B, D01A, D01B, D01C, D02A, D02B, D03A, D03B, D04A, D04B


This specification provides the definition of the Credit risk cover message (RECECO) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.


1.1. Functional definition

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.

The message will be used to apply for preliminary credit assessment (used during negotiation with prospective clients); apply for credit protection; reply to credit requests; revise amount and expiry date of credit protection and terms; cancel credit protection.

The message will serve at the same time as the request for credit risk cover and as the answer (approval or rejection to that request).

1.2. Field of application

The Credit risk cover message may be used for both national and international applications. It is based on universal practice related to administration, commerce and transport, and is not dependent on the type of business or industry.

This message may be applied for both national and international settlements.

1.3. Principles

The flow of communication is from Seller to Factor (request), and from Factor to Seller (answer). The Seller must provide information regarding the Buyers (name, address, etc.) and information regarding the expected amount of sales to be risk covered. The Factoring company will provide an answer, after due credit investigation.

The credit cover may be a 'line cover' or an 'order cover'. A line cover relates to the sales of one seller to one buyer, up to the agreed limit. An order cover relates to a specific order (or shipment).

  • one credit cover may relate to one or more line covers;
  • one credit cover may relate to one or more order covers;
  • for each distinct period there is only one line cover;
  • one credit cover must relate to one buyer;
  • one credit cover must relate to one seller.


See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 1.


3.1. Standard terms and definitions

See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 2.


4.1. Segment clarification

This section should be read in conjunction with the segment table which indicates mandatory, conditional and repeating requirements.

0010 UNH, Message header

A service segment starting and uniquely identifying a message. The message type code for the Credit risk cover message is RECECO.

Note: Credit risk cover messages conforming to this document must contain the following data in segment UNH, composite S009:

Data element0065RECECO

0020 BGM, Beginning of message

A segment specifying the function and status of the message.

0030 RFF, Reference

A segment identifying the reference of another message or transaction related to this message.

0040 DTM, Date/time/period

A segment specifying the date and, when required, the time at which the message has been created as well as other dates and times relevant to the transactions, e.g. request date.

0050 Segment Group 1: NAD-CTA-COM-FII

A group of segments identifying the name and address of the parties involved in the transaction, their contacts and financial institution information.

0060 NAD, Name and address

A segment identifying the name and address of the parties associated with the credit risk cover message.

0070 CTA, Contact information

A segment identifying a person or a department for the party specified in the NAD segment and to whom communication should be directed.

0080 COM, Communication contact

A segment providing a communication number for the party identified in the NAD segment and optionally for the contact identified in the associated CTA segment.

0090 FII, Financial institution information

A segment identifying the financial institution (e.g. bank) and relevant account numbers for the parties involved, where necessary.


A group of segments identifying the amounts of the credit covers, the currency, the date, the request, the payment terms related to the credit cover.

0110 DOC, Document/message details

A segment identifying the credit cover.

0120 MOA, Monetary amount

A segment giving the monetary amounts of the current credit cover and one or more new credit covers.

0130 CUX, Currencies

A segment identifying the currency of the credit cover.

0140 DTM, Date/time/period

A segment specifying the dates related to the credit cover, such as expiration date, date valid from or the order date (latest shipment date).

0150 CCD, Credit cover details

A segment specifying a request for a credit cover, a reply to that request and the reasons for the reply.

0160 PCD, Percentage details

A segment specifying the percentage of the own risk, related to the credit cover.

0170 X PAT, Payment terms basis

A segment specifying the payment terms, as agreed between seller and buyer.

0180 FTX, Free text

A segment specifying the response to the request, in coded form.

0190 RFF, Reference

A segment identifying the order number, when necessary.

0200 UNT, Message trailer

A service segment ending a message, giving the total number of segments in the message (including the UNH & UNT) and the control reference number of the message.

4.2. Segment index (alphabetical sequence by tag)

BGM Beginning of message
CCD Credit cover details
COM Communication contact
CTA Contact information
CUX Currencies
DOC Document/message details
DTM Date/time/period
FII Financial institution information
FTX Free text
MOA Monetary amount
NAD Name and address
PAT Payment terms basis
PCD Percentage details
RFF Reference
UNH Message header
UNT Message trailer

4.3. Message structure

4.3.1. Segment table

├─UNH Message header ×1 (M)
├─BGM Beginning of message ×1 (M)
├─RFF Reference ×9 (C)
├─DTM Date/time/period ×9 (C)
├─Segment Group 1 ×99 (C)
├─NAD Name and address ×1 (M)
├─CTA Contact information ×1 (C)
├─COM Communication contact ×5 (C)
└─FII Financial institution information ×1 (C)
├─Segment Group 2 ×99 (C)
├─DOC Document/message details ×1 (M)
├─MOA Monetary amount ×1 (C)
├─CUX Currencies ×1 (C)
├─DTM Date/time/period ×5 (C)
├─CCD Credit cover details ×1 (C)
├─PCD Percentage details ×1 (C)
├─PAT Payment terms basis ×1 (C)
├─FTX Free text ×1 (C)
└─RFF Reference ×1 (C)
└─UNT Message trailer ×1 (M)

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vertical bar Changes to text for descriptions, notes and functions.
minus sign A deletion.
letter X Marked for deletion.

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