This paper study will take the conception of impawn financing as a point of departure,with comparing the similarities and differences of chattel mortgage and pledge of rights,analyzing and defining the essence and embodiment of warehouse receipt pledging respectively in the areas of finance and legislation.

The national depositary bureau, which is the national department that owns large storage facility, can develop warehouse receipt pledging to give positive influence on financing chain, which is advantageous to banks, NDB and enterprises needs financing.

The retailers finance their inventory by stock document mortgage and face the newsvendor′s problem.

The paper introduces the relevant features of pledge by warehouse receipts and the current situation of implementing pledge by warehouse receipts both at home and abroad,analyzes systematically how to implement the pledge business of warehouse receipts in railway logistics enterprises and propeses the concrete requirements and the contents of risk protection.

Warehouse list loan is one of extended business of traditional preservation and transportation.

The Research on warehouse receipt pledge for Small and Medium Enterprises

The paper discusses the inherent mechanism and general character of the non-standard warehouse receipt pledge financing, designs the general flow of the non-standard warehouse receipt pledge financing, and proposes the main transaction rish of the non-standard warehouse receipt pledge.