The Issues Of Pledge Of Receivables

The Property Law of People’s Republic of China (hereinafter refers to as the PropertyLaw), adopted and implemented in2007, has established the pledge of receivables.However,because of only few of rules, so general and simple, that there are many issues in commercialactivities and judicial practice. The paper applies comparative， normative and systematicalanalysis to deconstruct the pledge of receivables from concept to establishment, to realization,in order to achieve guidance for legislative,judicial and practical experience. This paper isdivided into five sections: the first part, through the typical cases, author summarizes theprominent problems in the various links of the pledge of receivables after the Property Lawimplemented, and find out the main focus, leading the direction and scope of the study below.The second part, definite the concept and contents of the account receivables. Reference theregulations of the existing national laws and international conventions, make accuratedefinition of the accounts receivable. Distinguish two kinds of special rights, accountreceivables gaining in future and rights to real estate fees, make the conditions of the pledgeof account receivables in future clear. Exclude the rights to real estate fees from the accountreceivables when pledged. The third part, according to the problems and defects in existingsystem of establishment, propose to re-build the method of establishment as “Writing+notifythe third debtor”. Retain the registration form as the counter requirement to provide. Thefourth part, suggest putting up the rule of direct charge to improve the system of realization ofthe pledge of receivables. Distinct the different results of judgment and rulings betweenprepayment and deposit，when the main claim is inconsistent with the account receivables.Improve the provisions of the floating pledge of receivables, make the point ofimplementation as the point of determining the scope of the pledge of receivables. The fifthpart, sums up the above views, and proposes legislative or judicial interpretation.