Legal Analysis Of Accounts Receivable Pledge

Introduced the "Property Law" provides financing to SMEs in new ways, but due tothe imperfections of the relevant legal requirements and can easily cause an increase in therisk of financing SMEs in a dilemma. Under the legal provisions of the receivables pledgedonly two cases, how to regulate the practice of specific actions, how to guard against the riskof accounts receivable pledged exist, how to solve the conflict of rights and other issuesbecome the focus of the phenomenon of academic discussion. After seven years of practiceoperations, although receivables secured achieved good results, but there are still somecontroversy plagued our secured financing practices. This article does not attempt to set forthall aspects of secured financing of accounts receivable, and accounts receivable pledged tofocus on just the right present during the conflict and their solutions, specifically article isdivided into an introduction, body and conclusion.The introduction discusses the establishment of property law since pledge of accountsreceivable system, practitioners and theorists dispute the existence of the relevant points.Particularly with regard to the rights of debtors facing conflict pledge practical operation, thelaw does not specifically defined in the regulations, and the judges can not refuse the case ofthe referee, the court will adopt solutions. Forced theory through practical operation in theprocess of innovation, prosperity and development of a wide range of credit facilities willpledge accounts receivable added impetus. In the process of drafting Property Law, ProfessorLiang Huixing strongly in favor of the transfer of receivables should adopt practical way toeliminate the risk of the operation there, but ultimately the legislature did not adopt the way oftransfers instead of using the pledge financing for enterprises. Compared to the transfer of thepledge can effectively avoid the risk, because the transfer of the legal relationship betweenthe parties will be completely out of debt during the transfer, so when a dispute transferormay evade their responsibilities, will undoubtedly increase the risk of corporate financeguarantees. In adopting the pledge financing guarantees can effectively avoid the risk ofunlimited expansion and protect the interests of third parties.The first part focuses on the elaborate nature of the receivables, mainly consists of twoparts. One is discrimination on the concept of accounts receivable, accounts receivable civillaw generally does not apply this concept, and our property law in drafting Shique introducethis concept, so you must do to explain some of the accounts receivable concept. This section compares the major use of analytical methods, the first analysis of this concept at home andabroad to explain their main concern is the right to payment, combined with China’s"registration" and "the People’s Bank suggested draft" of the conflict on the interpretation ofaccounts receivable, the concept can be drawn mainly accounts receivable securitization ofpayment rights of a distinguished. Must also be clear that, although the right to charge adifferent understanding of the academic nature of its existence, but Tong said that the conceptof accounts receivable not covered by the right to charge the same time that the concept ofaccounts receivable should do magnify explanation.The second is to explore the receivable pledged as collateral on the legal nature of thesystem. Firstly, an article from the People’s Court News reports start to explore the legalnature of a pledge of accounts receivable. Property Law of the object in the object and explainsome things to do, both in different areas. If the legal nature of the receivables pledged ascollateral will come to understand the error of accounts receivable pledged not matter, nor is itthe wrong thing for the guarantee. In contrast, this paper considers the collateral pledgedreceivables, but accounts receivable not matter specified in property law, cf chattel securitysystem in its application of law.The second part is the focus of this article, mainly on the accounts receivable pledged toresolve conflict and its right to exist. This section is divided into five small parts, the first isabout double the rights of debtors qualitative conflict exists, is fully functional securedreceivables, receivables paper argues that can give a qualitative legitimate double sex,although not fully recover price risk exists, but through a different path can be solvedeffectively disperse risks. Followed by the pledge of accounts receivable on the conflict ofrights and transfer of such rights conflict was mainly due receivables pledge registrationsystem after running for some time suddenly became a platform for the registration of thetransfer of accounts receivable. In this case, the transfer of the right to self-evident conflictwith the pledge. For this conflict of rights, the rule can be resolved through the preceding firstregistration rights.This paper argues that during the transfer, but not all of the accountsreceivable transferred must be registered through the registration system has generated effect.Resulting in a transfer of accounts receivable for the definition and how to divide a series ofrights and resolve conflicts. Once again, floating chattel mortgage on the conflict with theretention of title and the right quality, the paper try to give some examples clearly indicate thepresence of a conflict of rights in practice by way of example, they address the main priority is to use the rules. Finally, in the insolvency proceedings, the existence of conflict of rights ingeneral and the pledge’s bankruptcy creditors, whether the law should protect the interests ofthe general interest of the pledgee or bankruptcy creditors right pattern of difference betweenthem is how, this article tries give their own answers.The third part is about the pledge accounts receivable perfect guarantee systemexploration. Consists of three parts, one is again about the definition of the concept ofaccounts receivable, followed by the pledge on receivables achieve the perfect system, andfinally the existence of accounts receivable risk and its prevention. Focused on risk preventionpledge of accounts receivable, and accounts receivable pledged to improve the securitysystem is also its main risk lies in prevention. A good run and ultimately an effectiveregulatory regime, while in industry self-regulation, but also to improve the externalsupervisory mechanisms, so the risk of accounts receivable arising from a pledge financingwill greatly reduced.