Research On The Unification Of Chattel Security Right And The Unified Registration System

The chattel security right in China is divided into the chattel mortgage,the chattel pledge and the pledge of right.With the development of social economy,the types of chattel have been enriched.As an essential financing channel for small and medium-sized enterprises,the new type of security has gradually emerged in practice.Nevertheless,owing to the strict principle of Numerus Clauses,it is difficult for the new type of security to get a reasonable position in the current legal system.The multiple chattel security system is easy to cause conflict between the legal provisions and the decentralized registration which is based on the multiple chattel security system,unreasonably increases the cost of security registration.It is not conducive to improving efficiency and convenience of secured transaction.Thus,the value of China's chattel security system is difficult to fully exert,which hinders the further development of the social economy to some extent.Chattel security system needs to be improved.The modernization of chattel security system in outside China such as Article 9 of Uniform Commercial Code provides plenty of valuable experience.Owing to the interrelationship between mortgage and pledge,and the demand for unified registration,China's chattel security system should follow the theoretical guidance of Realistic Law.Through the concept of Chattel Security Right,it is obvious that regardless of the transaction form,the content of chattel security is the same.The parties of secured transaction should be allowed to freely agree on the form of chattel secured transaction.It is no longer for China's chattel security system to distinguish the chattel security right with the standard of transaction form.At the same time,it is necessary to establish and perfect the unified registration and publicity system,unify the registration effectiveness and standardize the registration procedure.Henceforward,China's chattel security system can be more compliant with the development trend of modernization.