The Prevent Research Of BT Project’s Risk Based On The Legal Relationship With The Investment And Financing

Build-Transfer, a new type of investment and financing model to introduce socialcapital for government investment projects, get the government’s favor and widelyused in China. However, in recent years, BT projects on the market can be describedas half-truths. Blindly carry out the BT project, not only lead it to abnormaldevelopment, but also highlighted the specification of financing platform operation.By the end of2012, four ministries and commissions jointly issued the text of No.463,that again undoubtedly impact on the existence of a series of questions on the BTproject. On the one hand, and local government financing platform will face "default","by the new-old" program is difficult to achieve. On the other hand, banks and otherfinancial lending institutions limit lending, investor’s financing costs will be greatlyenhanced.In this paper, No.463issued by the text as the background, BT projects todomestic and foreign-based development model, proceed from the legal relationship,to individually analyze the main project of BT(project owners, investors), object(project and property ownership) and content (BT investment and financingconstruction contracts),to analyze them will face the new risks under the new policy.Then draw on the knowledge of management and economic law, use the perspectiveof civil and commercial law, to propose the theory and practice prevention measuresof these legal risks.Main aspects, Case of the owner, first, narrow owners constitute and exclude thegovernment, the second is to expand the appointment and management rights of theowners, in order to improve the level of engineering design and supervision. Theinvestments not only need to choose a good government and a joint investor, they alsoneed to set up a scientific project company and base on the project financing andlimited recourse to establish mechanisms. Object, first, choose a good project, and theproject construction phase of property transferred to the investor or the projectcompany. Second, at the time of transfer of ownership, pay attention to thestate-owned equity transfer factors and hidden debt, asset transfer tax incentivesattention. Finally, efforts to broaden the ways and buyback guarantee. Content, thelegal nature of the contract is clearly the nature of the investment and financing with new contract, on this basis, to develop of "BT investment and financing constructioncontract" model text, and to establish a sound contract management system in order toreduce the risk of the contract.