The concept of international financial leasing

International financial leasing refers to a comprehensive transaction method in which parties in different countries conduct equipment sales and payment financing in the form of an agreement; according to the agreement, the lessor will supply the equipment to the supplier according to the lessee's requirements. The seller purchases the equipment to be leased, owns the leased property according to the contract and leases it to the lessee. The lessee has the obligation to repay the rent on schedule and maintain the leased property, and has the right to terminate the leased property when the lease expires. Lease, renew the lease or purchase the leasehold property.

International financial leasing is not only flexible and convenient in form, but also has advantages that other forms of international economic transactions do not have. This transaction method can exempt the lessor from restrictions on international loans and loan interest rates under the laws of the country where it is located; it can protect the lessor from the risks caused by inconvenient or imperfect mortgage rules in the country where the lessee is located; and it can allow the lessee to Reduce financing costs through property financing, and enjoy the option to purchase and lease property according to the contract; this allows all parties to effectively utilize the benefits provided by relevant national tax laws and depreciation systems, etc. In view of this, international financial leasing has always occupied a stable share in international economic and trade activities in recent decades. It not only provides a convenient legal form for many developing countries to introduce equipment and funds, but also serves as a convenient legal form for some developing countries to develop overseas. An important means of business and commodity export.

The concept of international financial leasing can be divided into broad and narrow senses. International financial leasing in a narrow sense only refers to cross-border financial leasing (CrossBorder Lease) between parties in different countries; this type of "pure" international financial leasing gained rapid popularity in the 1970s due to the investment tax incentives adopted by developed countries. develop. The broad sense of international financial leasing refers to the collective name of the above-mentioned transnational Financial leases and international indirect leases (IndirectLease); that is to say, the broad sense of international financial leasing not only includes cross-border financing between lessors and lessees in different countries. Leasing, and includes financial leasing between a country's leasing company through its overseas subsidiary legal entities (joint ventures or holdings) and its lessees in the host country where its subsidiary enterprises are located. Judging from current practice, international indirect leasing has the fastest growth rate in the international leasing market, and it even represents the development direction of international financing. This legal form not only has all the advantages of cross-border financial leasing, but also overcomes the difficulties and obstacles caused by the differences in laws, taxation and accounting systems of the countries where the lessor and the lessee are located under the conditions of cross-border financial leasing. In view of this, in the field of international financial law, many scholars advocate that the original definition of the International Financial Leasing Convention should be interpreted based on the essence of international financial transactions and the broad concept of international financial leasing.

my country's current relevant laws and regulations and judicial interpretations adopt a broad interpretation stance on international financial leasing. According to the "Notice on Solving the Problem of Rent Arrears to Sino-Foreign Joint Venture Financial Leasing Companies" issued by the relevant departments of the State Council in February 1994 and the Supreme People's Court issued in May 1996 "Provisions on Several Issues Concerning the Trial of Disputes over Financial Lease Contracts", except for the cross-border financial leases between foreign lessors and Chinese lessees, which are international financial leases, foreign lessors communicate with our country through Sino-foreign joint ventures or subsidiaries in my country. Financial leases between lessees, financial leases involving the import of leased equipment, and financial leases involving foreign exchange rents are all "external financial leases", and the same rules as international financial leases should be applied to them.

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