Accounts Receivable Pledge Financing And Risk Prevention

The Real Right Law promulgated and implemented recently has clearly grantedthe pledge of accounts receivable a legal status, expanding the scope of securityproperties, and changing the legal environment of chattel guarantee system. Later,People’ Bank of China issued “Regulation of Registration of Pledge Receivables”,which constitutes the supplement to the Real Right Law, the pledge of accountsreceivable has been defined legally. The SMEs take advantage of accounts receivableto obtain bank loans, yet the pledge of accounts receivable is setting by learning theAnglo—American Legal System for reference, its legal provision is not clear anddefinite, and also existing legal holes. In practice, because of the flaws and drawbacks,they still face some legal risks, so it needs further discussion.The thesis consists of six chapters.The first chapter, based on the analysis of the financing channel, introduces thecurrent situation of financing of SMEs, which lead to the rise of the pledge ofaccounts receivable.The second chapter is related with the pledge of accounts receivable inAnglo—American Legal System, and Continental Legal System, and then comparesthe differences of both. All those studies are to pave the way for the research of thesystem of ours.The third chapter is a generality on the pledge of accounts receivable, includingthe definition, the process of financing, and the pledge registration, and also give ageneral description of the development of the pledge registration. This chapter givesthe reader a systematic view of the pledge of accounts receivable.The fourth chapter, based on the analysis of the pledge of accounts receivable indifferent legal system, aiming at the legislative situation, summarizes the legal risksthat still exist.The fifth chapter, learning the Anglo—American, and Continental Legal Systemfor reference, combined with the practice of ours, proposes some correspondingcountermeasures. The sixth chapter， discusses that there are still some bottlenecks in thedeveloping process of SMEs, and also propose some suggestions.