Pledge Of Accounts Receivable Based On Administrative Licensing Or Franchise

stay Registration method One of the categories of accounts receivable is special, that is, the accounts receivable is based on administrative licensing or Municipal Public Utilities Franchise, and the former is the toll right of expressway, the latter is the right to charge electricity charges. Because such accounts receivable is much more deterministic and secure than general accounts receivable, it has also become the subject of pledge in practice.

The right to charge based on administrative license is applicable to different legal provisions because of its different nature, and the acquisition of the right to charge must be approved by different competent departments. Taking the toll right of expressway as an example, it is necessary to obtain the permission of the competent traffic department for obtaining the toll right of the expressway, and the fees, terms and fees shall be approved by the competent authority.

In accordance with the provisions of the current measures for the management of Municipal Public Utilities Franchise, Franchise In the municipal public utilities projects, the relevant operators can operate after obtaining the franchise. The franchisee obtains the right to collect fees based on these rights, and sets up the pledge of accounts receivable in accordance with the provisions of the property law and the registration method.

Because of this kind Charging right The acquisition is based on administrative licensing or franchise, and the amount and duration of receivables shall be determined by administrative licensing or franchise. Once the operator of the pledge is lost as an operator of the administrative license or franchise, the corresponding charging right will also be lost, and the pledge will be meaningless. Therefore, when setting up such accounts receivable pledge, the pledgee shall examine the documents relating to the administrative license or the franchise contract signed by the pledgee and the competent authority, and understand the relevant conditions of the charging right, including the time limit, conditions and restrictions, so as to determine whether the pledge can be pledged and the corresponding terms of the pledge contract are formulated.

Before the implementation of the property law, the fees and franchise rights based on administrative licensing can be treated in practice, but not as a pledge of accounts receivable. Because the pledge requires the approval and registration of the competent authorities, and the subjects who have obtained the fees or franchises through administrative licensing usually need corresponding qualifications and conditions, and the actual operation is rather complicated.

From the current financing practice, some financial institutions have expressly stipulated that the toll right of Expressway includes toll right and accounts receivable arising from the right of toll collection, and requires approval and registration of the pledge in the traffic department and the credit information center respectively. It can be seen that financial institutions set up a pledge with the right of charging and corresponding accounts receivable as the two pledge.