Pledge Of Accounts Receivable Based On Administrative Licensing Or Franchise

Among the accounts receivable stipulated in the registration method, there is a special kind of accounts receivable, that is, the accounts receivable is the right to charge based on administrative licensing or Municipal Public Utilities Franchise.

Due to the certainty and safety of such accounts receivable is far higher than that of general accounts receivable, in practice, it has become more of the mark of pledge.

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.

According to the existing regulations on the management of municipal public utilities, the franchisee's municipal public utilities projects can be operated only after the franchisee is granted.

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.

The right to collect fees is based on administrative licensing.

The amount and duration of receivables shall depend on administrative licensing or franchise. Once the operator of the pledge has lost the administrative license or franchise right during the pledge period, the corresponding charging right will also be lost, and the pledge will not be meaningful.

Therefore, when setting up such an account receivable pledge, the pledgee shall examine the relevant information.

The franchising contract signed by the document or the pledgor and the competent authority shall 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.

In theory,

It is a kind of creditor's right, and the right to collect fees and franchise is a qualification. They can not be equated, but they should be able to establish a pledge, and the two kinds of pledge should go hand in hand. Only the right to charge and the franchise should be approved and registered by the competent authority.

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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.