Abstract: The essence of credit guarantee financing is the risk sharing between the guarantor and financial institution. Based on two power structures, supplier leadership and third-party logistics (3PL) leadership, this paper studies the effectiveness of supplier credit guarantee financing and 3PL credit guarantee financing with additional cost sharing, revenue sharing and quantity flexibility contract clauses in a three-tier supply chain composed of a supplier, a 3PL and a capital-constrained retailer. The following conclusions are obtained. First, the preferences of supply chain members for the two methods of credit guarantee financing under different power structures are affected by the guarantee coefficient, the initial capital of retailer and the market demand. Second, the choice of additional contract clauses in the two methods of credit guarantee financing is affected by the default rate of retailer. Third, compared with the supplier as the leader, the power structure of 3PL as the leader is more beneficial to the supply chain. The research results provide suggestions for the design of supply chain credit guarantee scheme and guarantee risk compensation contract clauses under different power structures.

Key words: additional contract clause, credit guarantee financing, financing strategy, power structure