| The latest half of century,project financing being a new burgeoning financing technique has become very popular in world,and especially in developing countries which need great funds to develop its infrastructure project , the advantage of the special financing structure in project financing shows itself to the best because project financing is a new international financing technique which uses the cash flow of financing project to pay the debt , with the project assets being collateral security. In fact, the project assets security is a floating charge .Floating charges were invented by the British courts in the nineteenth century and were named as equity security. Though there are many legal problems related to project assets security, this essay, limited to the number of words, can only study two legal problems which are closely related to project assets security and are urgently needed to be amended by our legislative authorities. The first legal problem is the efficacy of negative pledge clauses in project assets security and another problem is the contest between project assets security and priority right on project assets (this assay mainly takes the priority of construction contractor for an example). When discussing the first problem, the author gives the legislative suggestion that our legal authorities should take when legislating negative pledge clauses by comparing the different negative pledge clause legislations of England, Scotland, Canada and so on, in order to improve the efficacy of project assets security in our country. When discussing the second problem, by taking the priority of construction contractor regulated in Article 286 of 《Contract Law》of our country for an example ,and based on the judiciary explanation named as《an official reply to the legal problem of the priority of construction contractor passed through by the Supreme People's Court》( judiciary explanation No.16[2002]), the dissertation studies the legal character of the priority of construction contractor stipulated in Article 286 of 《Contract Law》of our country, thereby to question the rationality of judiciary explanation No.16 [2002]. And then legislative suggestions are made on the contest problem between priority and mortgages. And the end of the dissertation, on the base of analyzing the practices of project financing in our country and with the discussions of the above two legal problems, the author proposed some legislative suggestions on the legal framework of floating charges system and priority system, expecting to improve the legal security system of project assets security in our county.This dissertation includes four chapters with approximately 39000 Chinese characters:Chapter One: The Concept and Features of International Project Finance. In this chapter the author simply illustrates how the project financing originated and the basic concept of project financing. And then mainly analyzes the features of project financing which are quite different from that of traditional international loans.Chapter Two: The Negative Pledge Clauses in Project Assets Security. By analyzing the concept of floating charges and the features of floating charges and the project assets security, the author holds the view that the project assets security can be seemed as a floating charge. Then by comparing the different negative pledge clause legislations of England, Scotland, Canada and so on, the author proposes the legislative suggestion that our legal authorities should take when legislating negative pledge clauses.Chapter Three: Project Assets Security and the Priority on Project Assets——Taking Article 286 of《Contract Law》of Our Country for An Example. This is the key problem of this dissertation. Based on the judiciary explanation named as judiciary explanation No.16[2002],the dissertation studies the legal character of the priority of construction contractor stipulated in Article 286 of 《Contract Law》of our country,and then legislative suggestions are made on the contest problem between pr...
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