基于款项让渡的国际轨道交通工程合同融资实践
Contract Financing Practice Based on Assignment of Proceeds in International Rail Transit Project

本文以马来西亚某轨道交通工程项目实施过程中承包商合同融资为案例，探讨了承包商为解决项目实施过程中现金流不足，从而基于款项让渡，以工程进度款收入作为还款来源，从当地商业银行等金融机构获取授信额度的合同融资模式，并比较了该融资方式与业主方项目融资的差异，指出了承包商在国际工程合同融资中需要注意的问题。
This paper takes the contractor’s contract financing during the implementation of a rail transit project in Malaysia as an example, and discusses the contractor’s contract financing based on the assignment of proceed that uses the interim progress payment as the repayment source to get the credit facilities from the local commercial bank to solve cash flow insufficiency. The paper further compares the difference between the contractor’s contract financing and the owner’s project financing, and points out the problems that contractors need to pay attention to in the contract financing of international project.