On The Legal Issues In Connection With The Pledge Of Account Receivables

As part of corporate asset,account receivable plays an important role in the process of corporate financing,especially to small and middle size corporate.On the basis of the Guarantee Law of the PRC,the Property Law of the PRC promulgated in 2007 defined account receivable as one of the statutory target for pledge.The Property Law of the PRC regulated the pledge of account receivable,legalized the financing through the pledge of the account receivable,which effectively mitigated the difficulties corporate may face during the process of finance and therefore had significant meaning in both theoretic and practical aspects.In the same year,PBOC promulgated the Measures for Registration of the Pledge of Account Receivables,which monitors the operation the pledge of account receivables.However,in the recent decade of the development of the operation the pledge of account receivables,the shortages of the current regulations such as the incompleteness of the legislation regime,the deficit in the real practice has exposed gradually,which brings risks and obstacles to the future of the business.In 2015,PBOC promulgated the draft version of the Measures for Registration of the Pledge of Account Receivables,revised several shortages in the2007 measure.Therefore,in order to protect the lawful rights of the pledges and perfect the pledge of account receivable in both theoretic and practical aspects,there is urgent necessity to conduct research on the legal issues of the pledge of account receivable.This thesis analyzed the relevant issues existed in the pledge of account receivable and put emphasize on the discussion of the possible solutions to the issues existed in the current legislation scheme of the pledge of account receivable in PRC.The thesis consists of four parts: Part I,the definition of the terms and concepts related to the pledge of account receivable.This part mainly analyzed the concept of the account receivable and the pledge of the account receivable,provides theoretical base for the research of the legislation of the pledge of account receivable and the registration,the realization the pledge in the following context.Part II,the analysis of the legal status of the parties to the pledge of account receivable.To be more specific,the legal status of the pledger,the pledgee,and the secondary borrower.The analysis of the legal status of the secondary borrower focuses on the scope the account receivable,the registration the pledge of account receivable and the realization of the pledge of account receivable.Part III,the analysis of the legislative scheme of the pledge of account receivable of the PRC.Through the analysis of the deficit of the Property Law of the PRC,the Measures for the Registration of the Pledge of Account Receivable 2007 and the Draft of the Registration of the Pledge of Account Receivable 2015,this part provides the theoretic reasoning for the optimization of the current legislative scheme.As the Draft of the Registration of the Pledge of Account Receivable 2015 is still in the process of drafting,this thesis may have more practical meanings to the drafting.Part IV,the optimize suggestion to the legislative scheme of the pledge of account receivable of the PRC,mainly focuses on the optimize of the legislation of the pledge of account receivable,the optimize of the measures for the registration of the pledge of account receivable,the optimize of the enforcement of the pledge of account receivable.Through establishing a complete and effective legislation scheme,reduce the risks of the financial institute,protect the participating parties' lawful rights,promote the healthy development of the pledge of account receivable and the small and middle sized enterprises.