On The Super Priority Effect Of PMSI

Under the background of optimizing the business environment,the Real rights for security system has been reformed in the Civil Code of China,in Article 416.This system gives super priority to the oblige who provides financing for the price transaction and reflects that China’s Real rights for security system is moving from formalism to functionalism and complies.The research on the super priority effect of PMSI needs analyze the scope of confrontation on the basis of meeting the requirements of establishment,clarify the application field,and explore the survival application and improvement path.First,the realization of the PMSI must meet the important conditions.Second,when the PMSI competes with other rights,its super priority effect can be used against the floating mortgage,the fixed mortgage registered in advance,the executing creditor right,the real right of security obtained in good faith and the other PMSI.However,it cannot be used against the lien,the priority right of compensation of the construction project price,the mortgage of the original burden of the purchase and the buyer’s right of normal business operations.At the same time,PMSI should be "equally applied" in the field of untypical security.The reason is that the ownership reservation institution,finance lease system and PMSI have similar guarantee functions.Whereas,the two still have their own formal characteristics,and the approval must be carried out within a certain limit.Finally,the super priority effect of the PMSI shall be maintained.Where the parties agree on restrictive clauses,it shall not have the effect against a third party without registration.When the super priority effect of PMSI is blocked by the buyer’s right of normal business activities,it is feasible to explore the establishment of the system of gold subrogation.