【正文】 政策和其他影響市場的政策 Collateral Evaluation III 抵押品評估 ? Intangibles無形資產(chǎn) ? Negotiable instrument: validity of the instrument, obligor, credit rating, maturity, type of transaction: collateral/repurchase agreement/discount流通票據(jù)：票據(jù)的有效性，債務(wù)人，信用等級，交易類型：擔(dān)保 /回購合同，折扣 ? Document of title: bill of lading: validity of the document, location of the property, quantity, species/variety, measure/weight, value per unit, quality, condition, schedule, as well as marketability and market price.物權(quán)憑證：提單：單據(jù)的有效性，財產(chǎn)所在地，數(shù)量，種類 /品種，尺寸 /重量，單位價值，質(zhì)量，條件，時間表以及可銷售性和市場價格 ? Investment Property: issuer, credit rating, market price, market volatility, (maturity), OTC/exchange投資財產(chǎn)：發(fā)行者，信用等級，市場價格，市場頗動幅度（到期日），場外交易 /交易方式 ? Account (book debt): obligors, the extent of diversification, the length of terms, aging schedule, the past default rate應(yīng)收款：債務(wù)人，多元化程度，期限長度，帳齡時間，過去的違約情況 ? General intangible: variability of the right (document), terms and conditions, restrictions contained in the document, marketability, etc. 一般無形資產(chǎn)：所有權(quán)（單據(jù)）的可變性，條款和條件，文件中的限制條件，可銷售性，等 5. Protection of Collateral 抵押品保護(hù) Creation of Security Interest 擔(dān)保利益的產(chǎn)生 ? Elements to create valid security interest:擔(dān)保利益產(chǎn)生的要素 ? The debtor has rights in the collateral*債務(wù)人對抵押品有所有權(quán) ? A security agreement must be authenticated by the debtor擔(dān)保合同必須由債務(wù)人 ? A security agreement must contain a description of the collateral擔(dān)保合同中必須包含對抵押品的描述 ? A security interest cannot attach unless ―value‖ is given*除非給定“價值”否則不能附加擔(dān)保利益 ? ―A value‖ in security agreement擔(dān)保合同中的“價值” ? A value is set in accordance with an amount intended to cover existing or future credit outstanding in part or in 的部分或全部貸款額 ? Other Issues其他問題 ? Intercreditor agreement貸款機(jī)構(gòu)間協(xié)議 ? Paripassu charge比例平等抵押 ? Creation of security interest alone cannot preserve creditor’s priority over lien creditors and other secured parties with an interest in the same collateral. 僅僅使用擔(dān)保利益不能保證債權(quán)人可以優(yōu)先于留置債權(quán)人和其他對抵押品有權(quán)力的債權(quán)人 *Based on: Law in a Nutshell: Secured transactions, Richard B. Hagedorn, Thomson West, 2023, p57, 92, 95 Perfection of Security Interest 擔(dān)保利益的完善 ? After perfection the secured party is protected against other creditors and transferees of the debtor and in particular, against any representative of creditors in insolvency proceedings instituted by or against the debtor.*在完善擔(dān)保利益之后，被擔(dān)保方的利益對其他債權(quán)人和債務(wù)人的轉(zhuǎn)讓方是被保護(hù)的，特別是在債務(wù)人破產(chǎn)時，對其他債權(quán)人代表而言。 Safe Custody/Collateral Book II 保管 /抵押品登記冊 ? Collateral Book抵押品登記冊 ? Role of collateral book includes (1) administrating the collateral inventory, and (2) managing the expiration of limitation period and the maturity date for certain types of collateral. 抵押品登記冊的作用包括： (1)管理擔(dān)保存貨 (2)管理部分有有效期限和到期日的抵押品 ? Collateral book should be created separately for each type of ? Collateral book should assign a number for each pledged goods and documents for the administrating ，抵押品登記冊應(yīng)該分配給每個抵押物和文件一個號碼 ? Pledged goods should be sturdily tagged with a note indicating name of pledgor, borrower number, date, collateral number, 物應(yīng)該牢固的粘上標(biāo)簽，上面寫明名字，借款人號碼，日期，抵押品代碼，等 ? Collateral book should be managed by senior 經(jīng)理進(jìn)行管理 ? Inventory of collateral should be checked against the collateral book periodically (once in a month)擔(dān)保實(shí)物應(yīng)該與登記冊進(jìn)行定期核對（每月一次） ? Adding and removing of pledged goods from the custody should be registered in the appropriate collateral book*.保管場所增加或者轉(zhuǎn)移抵押物都應(yīng)該在對應(yīng)的登記冊上登記 Note: When accepting and returning collateral, receipt should be issued to and received from the borrower by the bank, which should indicate concerned goods and documents in detail: type, number/quantity, date, with signature. 注意：當(dāng)接受和歸還抵押品時，應(yīng)該交給和收回借款方收條，收條上應(yīng)該寫明相關(guān)物品和文件的明細(xì)：種類，數(shù)字 /數(shù)量，日期，簽名 Safe Custody/Collateral Book III 保管 /抵押品登記冊 ? Maturity for certain types of collateral部分抵押品的到期 ? Negotiable instruments such as draft, certificate of deposit, and promissory note have maturity date. 有 到期日的流通票據(jù)，例如：支票，定期存款，期票 ? In accordance with the collateral agreement, such negotiable instruments need to be settled without ，流通票據(jù)應(yīng)該立刻兌現(xiàn) ? Expiration for certain types of security interest擔(dān)保利益的到期 ? Depending on jurisdiction and on type of collateral, a perfection of security interest may expire after a certain period (limitation period effects). 根據(jù)擔(dān)無誤的權(quán)限和種類，擔(dān)保利益的完善可能在一定時期之后終止（有限期間有效）。 ? How often do you reappraise real estate collateral?你多久進(jìn)行一次房地產(chǎn)抵押品的再評估？ 7. Enforcement of Collateral 抵押品的強(qiáng)制執(zhí)行 Enforcement of Security Interest I 擔(dān)保利益的強(qiáng)制執(zhí)行 ? Event of default違約情況 ? A breach by debtor of any of the terms of the security agreement債務(wù)人違反了擔(dān)保協(xié)議的任何條款 ? A grace period寬容期 ? Rights of secured party被擔(dān)保方的權(quán)利 ? Money suit金錢訴訟 ? Repossession收回占有權(quán) ? Selfhelp資助式 ? A prerepossession notice收回占有權(quán)前通知 ? Foreclosure喪失抵押品贖回權(quán) ? Strict foreclosure嚴(yán)格喪贖權(quán) ? Deed in lieu of foreclosure取消抵押品贖回權(quán)的合約 *Based on: Law in a Nutshell: Secured transactions, Richard B. Hagedorn, Thomson West, 2023, p320323 Enforcement of Security Interest II 擔(dān)保利益的強(qiáng)制執(zhí)行 ? Public or private sale公開或私下銷售 ? If it is applicable, private sale will be encouraged where private sales through mercial channels will result in higher realization on collateral for the benefit of all parties.*如果私下銷售適用的話，通過商業(yè)渠道進(jìn)行的私下銷售可以通過抵押品更大的擴(kuò)大各方的利益。 Note: When returning pledged goods and documents, receipt with the borrowers signature should be provided. 注意：當(dāng)歸還抵押物或文件時，借用方應(yīng)提供有簽名的收條 Useful Documents 有用的文獻(xiàn) 演講完畢，謝謝觀看！