The Risks And Countermeasures Of The Valuation Adjustment Mechanism In The Judicial Practice Of Our Country

Valuation Adjustment Mechanism(VAM) as foreign old routine, a mature content of its own design and operation mode. But on domestic comes to valuation adjustment agreement, one might ask what is wine is poison, it could be valuation adjustment agreement occurred in the process of introduction of alienation. Whatever the reason, no matter good or bad or not, on not to talk. Valuation adjustment agreement as a means of investment, in the domestic field of investment and financing also around at that time. Troubled but now valuation adjustment agreement seemed to default, the network media and the press and the courts at all levels and dispute arbitration institution to bet against the referee is also common occurrence. But even so, bet on agreement of exists in the domestic field of investment and financing is still the fact, because its meet the finance company to implement low cost rapid financing needs. Valuation adjustment agreement, however, as a high risk of investment activities, domestic known to valuation adjustment agreement degree is not high, under the current legal system in our country also no relevant legal regulation, so valuation adjustment agreement in the domestic application will face a big risk. Although China is not the case law countries, the judicial referee pointing still has an irreplaceable role and significance. Therefore, this article hopes on the basis of deep understanding bet agreement at home and abroad, to have bet on the dispute case to sort and summarize, refine bet against the common focus of dispute in the dispute and court for these disputes will be how to judge, and then through the systematic analysis and research, we put forward the suggestions of related law, hope to provide some reference for the domestic investment and financing practice. The full text is divided into five parts:The first part as the full text of the introduction, first of all, the article selected topic background and research purpose are described briefly, namely bet protocol is widely used in the field of investment and financing at home and abroad. But the blank on the domestic legislation, bet disputes layer see, seems to valuation adjustment agreement in the domestic market. Valuation adjustment agreement as a theory is an important system arrangement and in reality a way out of the financing difficulties of domestic enterprises, is a necessary subject of legal research. Analysis of research status at home and abroad, however, to valuation adjustment agreement as foreign old routine, cause the research significance is not big. As investment tools in the field of investment and financing in our country, is also more focus, less analysis. So its theoretical depth is still to come, practical significance is also very important.The second part is about the bet on an overview of the valuation adjustment agreement. This paper introduces the concept of valuation adjustment agreement first, and then makes valuation adjustment agreement comparing with other concepts, and then analysis the legal nature of the agreement. Bet protocol is a valuation adjustment on enterprise future financing contract, it is different from the loan agreement, conditional contract terms and guarantee, guaranteed contracts, valuation adjustment agreement should be a kind of nameless contract, special shot has a contract. Bet protocol is to solve the information asymmetry, to protect the interests of the investors, encouraging and constraints financing institutions. Although the contents of the valuation adjustment agreement is not very rich, but according to bet on whether both sides are mutually responsible commitment, on the valuation adjustment agreement set of conditions, to undertake responsibility gambling in the mode of different criteria for the classification, our valuation adjustment agreement can be divided into different types.The third part is to valuation adjustment agreement system briefly and draw lessons from abroad. First briefly elaborated the foreign system of valuation adjustment agreement rich content design and mature operation model, analysis compared with China, its bet on what are the advantages on the arrangement. Then according to the foreign experience, to valuation adjustment agreement on the content of the design and operation mode in our country to provide some reference.The fourth part is the research of valuation adjustment agreement the status quo of the judicial practice in our country. First summarized some typical bet on the analysis of the dispute case, on the basis of extracting bet against domestic dispute focus of controversy. Those disputes, and then analysis the judiciary to focus the umpire rules. Finally from the judicial referee processing rules and relevant legal provisions, summarizes the current domestic legal regulating of the agreement on bet.The fifth part is based on the content, the analysis in our country apply valuation adjustment agreement existing risk and countermeasure. Firstly analyses the rules of the judicial referee the agreement bet against the effectiveness of the risk, investors and financiers of the valuation adjustment agreement will face the risk, and then put forward problems that should be paid attention to valuation adjustment agreement in our country, that is, from agreement to conclude the main body, share repurchase, conventions, public interest agreement content arrangement, and how to draw lessons from foreign experience, puts forward rational valuation adjustment agreement suggestions of how to dissolve the risk.