Study On Guarantee Legal Issues In Ship Financial Leasing

Abstract:Ship financial leasing gradually becomes China’s shipping enterprises to adopt new ways of financing since the 1950s’after the rise. Ship financing lease’s financing characteristics make it belong to the category of modern financial services. This paper selects one of the security problems as probed.The article is divided into three parts, roughly follow the ’pose questions, analysis, problem solving’.The first part is "questions" part, through the analysis of the different risks the lessor faced in the ship financial leasing and put forward the subjective risks can through the guarantee to prevent. First, this part put on a research of the financing lease ship defined, and briefly analyzes its advantages. As a traditional rental innovation and breakthrough, the lessor’s purpose of the transaction is not limited to retain ownership of the lease item,but also to achieve their financing profits via the rent for investment income and access to realize the compensation. The lessee not only broadens the financing channels, but also reduces the financing risk and form good cash flow. In addition, the lessee still maintain a reasonable level of assets and liabilities. The lessee’s core competitiveness is improved.Ship financing lease’s financing characteristics make it belong to the category of modern financial services. As a service provider, the lessor not only face the general risk,but also face the ship by a special object in the special risk. General risk mainly inculdes the interest rate risk and exchange rate risk. It belongs to the objective risk.Special risks are refered to maritime lien risk, possessory lien risk, ship pollution damage risk, credit risk. The risk of subjective, the lessor can through the specific terms of the contract set to prevention and also can be used by the lessee to provide security to prevent the way.The second part is "analysis" part. Through the analysis of the traditional way of security, this paper reveals the guarantee the limitation of the traditional way. This part of this paper at first introduced the main traditional assure means that human guarantee-property security guarantee, mortgage, pledge, lien and money--and guarantee deposit and margin, and the way to guarantee in the ship in the financing lease of use are analyzed. On the basis of analysis of the traditional way to reveal the guarantee in prevent and eliminate risks, and safeguard the shipowner’s limitations which is insufficient reliability, risk prevention degree is not high, the rights of the complexity of the realization.The third part is "problem solving" part. To overcome traditional assure means in prevent and eliminate the limitation of risk, new means should be introduced: independent guarantee and the lease factoring. This part of the independent guarantee analysis in the ship security in the financing lease of advantage: self-satisfied, guarantor unconditionally undertake and primacy of liability if, irrevocable sexual, efficiency. The advantage is a good way to overcome the deficiency of the traditional security, better safeguard the rights and interests of the shipowner. In reference to the international is based on the experience of the author to ship in a finance lease in the independent guarantee system design, makes a brief analysis.Lease factoring is another kind of new way to guarantee. Lease factoring has strong ability of financing. It can provide good payment security to the lessor and give the lessor comparenhensive service. The lessor’s "accounts rent" in essence belongs to "accounts receivable", or "lease creditor’s rights", it is to be transferred and can and then can be used to purchase the factoring, i.e. the financing lease in the ship, in order to safeguard the rights and interests of the lessor introduced lease factoring is possible.