Dynamic pledge is a kind of credit business of chattel real right pledge, which refers to the credit business of enterprises or individual industrial and commercial households pledging their own or third-party legally owned chattel, also known as approved inventory mode. The bank sets a minimum amount for the goods pledged by the enterprise, allowing the goods above the limit to leave the warehouse, and the trustee can barter things.

Scope and characteristics of dynamic pledge financing conditions

It is suitable for enterprises that have no other collateral except inventory and have financing needs. The inventory pledged by enterprises must conform to the catalogue system of bank pledges, and the inventory often needs to enter and exit.

For customers: obtaining credit from banks without other mortgage or guarantee; Revitalize the funds originally accumulated in the inventory, thus expanding the scale of operation.

For banks: expand the target customer base; Obtaining collateral with strong liquidity when other collateral cannot be obtained; Obtaining the deposit * * * includes the initial deposit and the redemption deposit * * *; Use the trade chain to cut into the upstream enterprises of customers.

Under the dynamic logistics supervision mode, considering the influence of credit level and price fluctuation of pledged goods, a calculation model of pledge rate of inventory pledged loans based on batch of multiple bills of lading is established. On the basis of respecting the controllable risks of banks and obtaining predictable profits, this model helps third-party logistics enterprises to formulate supervision strategies, and finally finds the pledge rate of inventory pledge loans under the principle of controllable risks, so that all three parties can win together.

Basic model and process of dynamic pledge financing

Chattel pledge financing refers to the enterprise applying for financing with the goods recognized by the bank as pledge. The enterprise shall deliver the legally owned goods to the warehousing supervision company recognized by the bank for supervision, and shall not transfer the ownership. Enterprises can obtain financing without affecting normal business turnover.

Chattel pledge financing supports a variety of financing methods, including loans, opening bank acceptance bills, letters of credit, letters of guarantee, guaranteed discounted commercial acceptance bills, etc. Enterprises can flexibly choose appropriate financing methods.

*** 1*** Banks, customers and warehouses sign warehouse supervision agreements.

***2*** The customer pledges the inventory to the bank.

***3*** Banks provide credit to customers.

***4*** The customer pays the deposit or deposit or supplements the similar pledge.

***5*** The bank sends delivery instructions to the warehouse.

Development Status of Dynamic Pledge Financing

China's small and medium-sized enterprises mainly solve their financial difficulties through indirect financing. However, due to the imperfect financial system, unstable operation and high bankruptcy probability of SMEs, their credit ratings are generally low, which urges banks and other financial institutions to provide adequate guarantees to control loan risks. Among these guarantee resources, the fixed assets that can be used for mortgage only account for a small part of the assets of small and medium-sized enterprises, while the inventory of raw materials, projects under construction and finished products accounts for a large proportion.

Comparatively speaking, at present, our country mostly carries out inventory pledge financing business for circulation enterprises, so the storage mode is mainly public storage. Through the exploration and practice of logistics warehousing enterprises and banks in recent years, the monitoring mode of pledged goods has also developed from the initial static pledge to various forms of dynamic pledge mode, including circular pledge, replacement warehouse receipt pledge, credit or margin replacement warehouse receipt pledge and stock pledge under dynamic control.

In terms of risk control methods, China's commercial banks lack detailed classification of legal risks, operational risks, borrower's credit risks, collateral price risks, liquidity risks, etc., and lack scientific risk measurement methods. They mainly determine important indicators such as interest rate, pledge rate, loan term and opening rate by experience, which makes it difficult to effectively warn and control risks.