Analysis Of Common Problems In Pledge Of Accounts Receivable Of Enterprises

The promulgation and implementation of the property law of the People's Republic of China (hereinafter referred to as the "property law") provides a legal basis for the new guarantee method of accounts receivable pledge.

The regulations on the registration of accounts receivable pledge (hereinafter referred to as the "registration method") have been standardized.

What accounts receivable?

Accounts receivable is a concept of accounting and should be regarded as a kind of creditor's right in law.

The property law itself does not define the definition of accounts receivable.

According to the provisions of the registration regulations, accounts receivable refers to the rights of obligee to pay the obligee for providing certain goods, services or facilities, including the existing and future monetary claims and the proceeds generated, including the sale of goods, the supply of water, electricity, gas, warmth, and the use of intellectual property rights; the claims arising from the lease of movable property or real estate; the claims arising from the provision of services; the charging rights for real estate, roads, bridges, tunnels, ferry and other claims that are generated by loans or other credits.

Accounts receivable does not include claims for payment arising from bills or other securities.

From the above definition, we can see that the quality of accounts receivable should actually be monetary claims, rather than monetary claims can not be used as a pledge of accounts receivable.

In addition, such claims should not be expressed in the form of bills or other valuable securities, because bills and other securities can be established as a pledge of rights, and because of the different nature of their negotiable instruments or securities, different principles for the implementation of the right of pledge and rules of registration are applicable.

Generally speaking, the pledge accounts receivable should be defined as claims.

The determination here is not the determination of index amount and performance period, but rather the creditor's rights that can be practically enjoyed by creditors, that is, creditors have fulfilled their main obligations, such as the sale of goods, or the creditors' continuous performance of their obligations, such as continuous supply of electricity, etc., and accordingly, the debtor has the right to claim payment accordingly.

If the goods are not yet sold and cannot be supplied, the creditor can not actually enjoy the creditor's rights. The accounts receivable have not yet been determined as the subject matter of the pledge.

In this regard, the registration method has not been distinguished.

The provisions of the commercial code of the United States are more clearly defined, which defines accounts receivable as "the right to collect payments for any goods sold or leased or to provide services, provided that such rights are not proved by bills or deeds deeds, whether or not they have fulfilled their obligations."

According to

In accordance with the provisions of the registration regulations, the pledge of accounts receivable should be registered in the people's Bank of China's credit information center or its various branches, and the right of pledge shall be established when registration is registered.

According to the operation rules of the people's Bank of China credit receivable pledge registration and other related documents, the pledge of accounts receivable should be handled by the pledgee in the online registration system of the credit information center.

Prior to the registration of pledge, the pledgee shall be registered as the user of the online registration system.

The users of the registration system are divided into regular users and ordinary users. The common users are mainly designed for the larger registered institutions. The registration of regular users must submit corresponding audit materials to the credit center or sub center. Ordinary users are designed for institutions or individuals who are less registered or only need inquiries, but they are not yet registered as ordinary users.

That is to say, even for the needs of queries, we must register as regular users.

After registration, the pledgee can carry out the initial registration of the pledge according to the system's prompts. After the initial registration is completed, the system will automatically generate the PDF version of the pledge registration certificate and download it.

The registration certificate can be used as evidence for the registration of pledge.

Since the registration of accounts receivable is only a formal review of the registration documents of the pledgee, the pledgee shall carry out a substantive investigation of the accounts receivable and bear the corresponding consequences.

This not only increases the cost of earlier investigation of the pledgee, but also increases the risk that the pledgee's pledge can not be realized.

In judicial practice, there has been a court ruling that negates the validity of the registered accounts receivable pledge.

Beijing (second) Intermediate People's Court (2009) No. 2 Zhong min word no. 14968th verdict, that is, the quality of the pledge will be issued by the court to execute the notice of accounts receivable set pledge right is not established.