On The Protection Of Our Country’s Accounts Receivable Pledgee

In the year of2007, Property Law have accepted the legality of theaccounts receivable pledge system and guide lined its basic establishmentrules with just two provisions. After that the People’s Bank ofChina released the Measures for the Pledge Registration of Receivables,which initially established the legal concept of accounts receivable andpublicity rules of the pledge. However, there still are disputes on theconcept of accounts receivable and registration mode, the registrationrules are inconsistent with the traditional idea of property law, pledge rightof accounts receivable may contradict with sales of accounts receivableand other security rights, and realization rules of the accounts receivablepledge right is still in absence. Those problems have brought out academicdiscussion, while the existing rules of law is still not enough to guaranteethe interests of the receivable pledgee.The pledge of accounts receivable system is intended to mobilize thehuge amounts of precipitated accounts receivable assets, and promoteSME’s financing. An important prerequisite for the accounts receivablesystem playing a role is that it is recognized by the banks and other lenders.In this paper, the writer focuses on the main line of the " protection ofaccounts receivable pledgee right ", discusses accounts receivable’sconcept, features, study pledge right’s risk, rules of establishment andrealization, and finally put forward suggestions for accounts receivablepledge right’s protection rules. The judicial interpretation of China’sProperty Law developing around the corner, the writing of this paper isprovided with more practical significance.Besides the Introduction and Conclusion, the paper is divided into thefollowing chapters: Chapter I: Overview of receivable pledge. This chapter start from theMeasure for Registration and the point of view of comparative law, theninterpret the accounts receivable’s connotation and denotation, introducethe characteristics and type of accounts receivable, and draw the conclusionthat receivables are non-securitized monetary claims, both existing andfuture; income is not accounts receivable itself; and the charging right as acivil rights belongs to accounts receivable.Chapter II: the risk of accounts receivable pledge right. The purposeof the guarantee system is to ensure the smooth realization of the securedclaim. This chapter begins with the analysis from the abstract point of viewof the risk accounts receivable pledgee receives from the accountsreceivable debtor, the assignee of accounts receivable, the transfer ofunderlying assets, realization of accounts receivable under our existingsystem, and demonstrate should the pledgee is in a weak position amongaccounts receivable pledge legal relationships in China.Chapter III: Examine the legal system of protection of accountsreceivable right of pledge. This chapter analyzes the establishment andrealization rules of the existing accounts receivable pledge rules, and thenbrings about the building direction of the registration mode, the notificationsystem, directly receiving right and the escrow account rules combinedwith foreign legislation.Chapter Four: Improving the Protection of the pledge right of accountsreceivable. Based on the risk discussed in Chapter II and analysis of therules in Chapter III, this chapter will come up with specific proposal ofimproving the protection of the pledge right of receivable.