The Study On The Legal Issues Of International Project Financing Guarantee

International project financing is a kind of creative finance way that is widely used in infrastructures and industry facilities constructions in western countries. There are many joiners in IPF including governments, project investors, banks, insurance companies, project product or service buyers, project creditors, project constructor and so on. They take part in IPF and act their roles in the project company construction, the project building and the project running. So there are complex law relations between them. In IPF the main joiners are project host government, project companies and foreign creditors including banks, companies, export creditors. Because foreign creditors are the main finance provides for project constructions, the consideration of pay back determines the project running. There are huge risks IPF including political risks, business risks, construction risks and bankruptcy risks. The pay back of the bank loan mainly relies on the cash flowing produced by project products or service selling. The foreign creditors have no or limited right on project investors" assets beside the project assets and cash flowing that are produced. So the loaners' risks are huge and how to build effected guarantee systems is the life line of IPF. A successful IPF has complicated and huge numbered legal files that put all kinds of risks on different suitable parties. In such a guarantee system, the main guarantee providers are the host governments, the project company and the products or services purchasers, the main guarantee demanders are the project loaners.This thesis is based on the relating law and regulations, the IPF practices of our countries and western countries and the research results in this field. The research purposes of this thesis are as follows:1. In IPF practice whether or not the host government can provide guarantee is the key issue of IPF' success. What kind of guarantee can the host government provide?The first purpose is to analysis the legal issues relating the government guarantee.2. In IPF practice the floating charges are widely used, but at present floating charge is still not adopted in China. So what are the advantages and disadvantages of floating charge? And so the second purpose is the study of how the floating charge is adopted in China.3. Because the pay back of the loan is mainly depend on the cash flowing produced by the project, so whether or not the project products or services can get long term purchase contract is very important. Take-or-pay sales contract acts as a kind of guarantee provide by the purchasers and the project company. Under this contract, the purchasers are bind with the obligations to pay for the products or service which the project provides even though they will not get the products or service. Usually the project company transfers the right under this contract to the creditor as a guarantee. This is often called credit assignment security which is not adopted in China. The third purpose is to analysis legal issues of take-or-pay sales contract. In this section the thesis will discuss the possibilities of introducing credit assignment security.The study result of this thesis can be concluded as follows: Based on the analysis of China' conditions, creating new types of guarantee tools, making full use of government guarantee are the key issues of improve the guarantee system in IPF.