Trust refers to the act that the trustor entrusts his legally owned property to the trustee based on his trust in the trustee (trust and investment company), and the trustee manages or disposes in his own name for the benefit of the beneficiary or for a specific purpose according to the wishes of the trustor. Generally speaking, it is "entrusted to manage money on behalf of others".
2. The basic characteristics of trust:
(1). Trust is based on trust, and the trustee should have a good reputation.
(2) The premise of a trust is that the trustor should entrust his own property to the trustee.
(3) The trust property is independent. After the trust is established according to law, the trust property is separated from the self-owned property of the trustor, trustee and beneficiary and becomes independent property.
(4) The largest trust affairs in interest management in which the trustee is the beneficiary.
3. Provisions of the Trust Law on the Establishment of Trust:
(1), the establishment of a trust must have a legitimate trust purpose;
(2) To establish a trust, there must be definite trust property, which must be the property legally owned by the client, including legal property rights.
(3) When establishing a trust, the trust documents shall be in written form.
(4) If the relevant laws and administrative regulations stipulate that the trust property needs to be registered, the trust registration shall be handled according to law.
4. Definition of trust business of trust and investment companies:
Trust business refers to the business behavior of trust and investment companies to accept entrustment and handle trust affairs as trustees for the purpose of collecting remuneration.
5. Trust business scope:
Trust business includes commercial trust, civil trust, public trust and other fields. Financial trust and investment companies approved by the central bank can operate four types of trust business, including fund trust, chattel trust, real estate trust and other property trust.
6. The parties to the trust:
Client: A person who entrusts a trust company to manage his own property. Conditions: the legal owner of the property; Legal persons, natural persons and other organizations established according to law with full capacity for civil conduct.
Trustee: a person who accepts a trust and manages or disposes of the trust property according to the provisions of the trust contract. However, the trustee who can engage in trust business must be a trust and investment company approved by the People's Bank of China.
Beneficiary: the person who enjoys the trust benefit (trust beneficial right). It can be a natural person, a legal person or other organizations established according to law. It can be the principal himself or someone else. A trust with the same principal and beneficiary is a self-interest trust, and a trust with different beneficiaries is a heterointerest trust.
7. Definition of trust property:
Trust property refers to the property transferred by the trustor to the trustee through trust behavior, which is managed or disposed of by the trustee according to a certain trust purpose, and the property income obtained after management, application or disposition.
Property prohibited from circulation by laws and administrative regulations shall not be used as trust property; Property whose circulation is restricted by laws and administrative regulations may be used as trust property after being approved by the relevant competent department according to law. Trust property includes funds, movable property, immovable property and other property rights.
8. Independence of trust property:
(1), the trust property is different from the owner's own property and the trustee's inherent property, and is not affected by the deterioration or even bankruptcy of the financial situation of the trustor and trustee.
(2) After the trust is established, the trust property is out of the control of the trustor and managed by the trustee with financial management experience, which can effectively ensure its preservation and appreciation.
(3) Trust property acquired by the trustee due to the management and application of the trust property or other circumstances shall be classified as trust property.
(4) Trust property shall not be enforced except as provided by law.
9. Management of trust property:
(1). The trustee shall handle the trust affairs in accordance with the provisions of the trust contract and on the principle of maximizing the interests of the beneficiaries.
(2) The trustee separately manages and accounts for the trust property and the inherent property, and manages and accounts for the trust property of different clients.
10, trust and investment company management and use of trust property:
Trust and investment companies can manage and use the trust property in the form of leasing, selling, lending, investment and interbank borrowing in accordance with the provisions of the trust documents.
1 1. Definition of fund trust:
Fund trust is a trust management model with funds as trust property, which usually aims at obtaining capital income within a certain period of time. Generally, it can be divided into two kinds of fund trusts: the client's designated use and the non-designated use. At the end of the trust, the trust property is usually returned to the client in the form of keeping its original state or converting it into cash.
There are two forms of fund trust: single fund trust (the trustee accepts the entrustment of a single principal and manages and uses the trust funds respectively) and collective fund trust (the trustee collects the trust funds of two or more principals and uses and manages the trust funds in a pre-agreed manner).
12. Requirements of trust-related laws and regulations for trust and investment companies to accept clients' funds:
Trust funds accepted by a trust company shall meet the following requirements:
(1), which must be legally owned by the client;
(two) a single trust fund shall not be less than 50 thousand yuan;
13. Handling of trust fund losses:
The trustee (trust and investment company) manages and uses the trust funds according to the agreement in the trust documents, and if losses are caused to the trust funds, the losses shall be borne by the trust property;
If the trustee (trust and investment company) disposes of the trust property in violation of the trust purpose, or the trustee (beneficiary) has the right to apply to the people's court for revocation of the disposition, and has the right to request the trustee to restore the trust property to its original state or make compensation; In case of gross negligence, the trustor (beneficiary) has the right to dismiss the trustee in accordance with the provisions of the trust documents, or apply to the people's court for dismissal.
14. Definition of trust income and trust reward:
The income generated by the trustee's management and operation of trust property is called trust income.
The remuneration received by the trustee for managing and operating the trust property is called trust remuneration.
15. Reasons why fund trust products cannot guarantee the bottom income:
The essence of trust business is entrusted by people to manage money on their behalf. As a trustee, a trust company must manage, use and dispose of the trust property in strict accordance with the provisions of the trust documents, and the gains or losses obtained therefrom shall be borne by the trust property.
According to Article 3 1 of the Administrative Measures for Trust and Investment Companies promulgated by the People's Bank of China on June 5, 2002, trust and investment companies shall not promise that the trust property will not be damaged or guarantee the minimum income when operating trust business.
Now there are products in the trust market that can't meet the expected rate of return and are free of charge, which shows that trust companies are full of confidence in realizing the expected rate of return.
16, media promotion of trust products:
According to the regulations of the People's Bank of China, trust companies shall not conduct marketing promotion through newspapers, television, radio and other public media when handling fund trust business.
17. Expected income source of the trust:
After careful calculation in advance, the trust company obtains the expected income of the trust project, which is the expected income of the beneficiary after deducting the corresponding expenses.
According to the provisions of the trust law, except that the trust company signs an agreement with the client, the trust income beyond expectations belongs to the beneficiary.
18, how to treat the risks of trust investment:
Any investment is risky. Risk is directly proportional to income, and the higher the income, the greater the risk. Trust products belong to medium income and medium risk. Different trust projects have different sources and sizes of risks.
Investment risks include policy, project management, force majeure and other risks.
Trust companies have strict and effective risk prevention mechanisms, and design effective risk avoidance schemes for each trust plan to minimize trust investment risks.
19. Impact of trust company's operating loss and bankruptcy on trust property:
Trust property (principal's funds) will not be affected if the trust company loses money or goes bankrupt.
According to the provisions of the trust law, trust companies need to manage their trust property and inherent property separately and keep accounts separately. Trust property does not belong to the trust company's own assets and does not participate in liquidation. When a trust company is in poor management, bankruptcy or bankruptcy, it should hand over the trust property to other companies, so as to make the management of the trust property sustainable and effective.
20. Transfer and realization of trust funds:
Under normal circumstances, trust funds cannot be withdrawn in advance.
However, according to the contract, the trustor (beneficiary) can transfer the beneficial right of the trust three months after the trust takes effect. The form of transfer is that the transferor and the transferee go through the transfer formalities at the trust company, and the transfer price is determined by both parties through consultation. The transferor and the transferee shall pay the transfer fee according to a certain proportion.
2 1. Trust funds and income collection:
After the termination of the trust contract, the trust company will transfer the principal and income to the beneficiary's account stipulated in the contract, and the beneficiary will collect it from the bank.
22. Payment of trust property taxes and fees:
(1), the beneficiary and the trustee shall pay taxes on their respective incomes according to relevant laws and regulations.
(2) The tax issues involved in the duration of the trust plan shall be handled in accordance with relevant national laws, regulations and policies.
23. The responsibilities of the trustee (trust company) during the trust period:
According to the Measures for the Administration of Trust and Investment Companies, trust and investment companies must fulfill their duties and fulfill their obligations of honesty, credibility, prudence and effective management when managing or disposing of trust property.
24. Obligations and responsibilities of the trustee in the trust business:
(1). The trustee shall abide by the provisions of the trust documents and handle the trust affairs for the best interests of the beneficiary. When managing the trust property, the trustee must fulfill his duties and fulfill the obligations of honesty, credibility, prudence and effective management.
(2) The trustee shall not use the trust property to seek benefits for himself except the remuneration agreed in the contract. If the trustee violates the contract and uses the trust property to seek benefits for himself, the benefits obtained shall belong to the trust property.
(3) The trustee shall not convert the trust property into its inherent property. If the trustee converts the trust property into its inherent property, he must restore the trust property to its original state; If losses are caused to the trust property, it shall be liable for compensation.
(4) The trustee shall not trade his inherent property with the trust property or the trust property of different principals, except as otherwise agreed in the trust contract or with the consent of the principals or beneficiaries, and trade at a fair market price. If the trustee violates the regulations and causes losses to the trust property, he shall be liable for compensation.
(5) The trustee must separately manage and account for the trust property and its inherent property, and separately manage and account for the trust property of different clients.
(6) The trustee must keep a complete record of handling trust affairs. The trustee shall regularly report the management, utilization, disposition and income and expenditure of the trust property to the trustor and beneficiary every year.
(7) The trustee shall be obligated to keep confidential the information about the trustor, beneficiary and the handling of trust affairs according to law.
(8) If the trustee disposes of the trust property in violation of the trust purpose or causes losses to the trust property due to violation of management duties or improper handling of trust affairs, he shall not ask for remuneration before restoring the trust property to its original state or making compensation.
25. The rights of customers:
(1). The trustor has the right to know the management, use, disposal and income and expenditure of his trust property, and has the right to ask the trustee to make an explanation. The trustor has the right to consult, copy or duplicate the trust account and other documents dealing with trust affairs related to his trust property.
(2) If the management mode of the trust property is not conducive to the realization of the trust purpose or is not in line with the interests of the beneficiary due to special reasons that cannot be foreseen when the trust is established, the trustor has the right to request the trustee to adjust the management mode of the trust property.
(3) If the trustee disposes of the trust property in violation of the trust purpose, or the trust property suffers losses due to violation of management duties and improper handling of trust affairs, the trustor has the right to apply to the people's court for revocation of the disposition, and has the right to request the trustee to restore the trust property to its original state or make compensation; If the transferee of trust property knowingly accepts the property against the purpose of the trust, it shall return it or make compensation.
(4) If the trustee disposes of the trust property in violation of the trust purpose or has gross negligence in the management, use and disposal of the trust property, the trustor has the right to dismiss the trustee in accordance with the provisions of the trust documents, or apply to the people's court for dismissal.
26. Rights of beneficiaries:
The beneficiary is the person who enjoys the interests of the trust property in the trust relationship. The beneficiary has the right to waive the beneficial right of the trust. The beneficiary's trust beneficial right can be transferred and inherited according to law.
27. Trust business documents mainly include:
(1), trust contract;
(2) Trust plan;
(3), trust property management, use risk statement.
28, the concept of trust contract:
A trust contract is a written agreement signed by the principal and the trustee as the parties to the trust legal relationship to establish, change and terminate the trust, and stipulate the rights and obligations of the parties to the trust relationship (including the principal, the trustee and the beneficiary).
29. Matters to be specified in the trust contract:
(1) the purpose of the trust.
(2) Names and domiciles of the trustor and the trustee.
(3) Beneficiaries or the scope of beneficiaries;
(4) The scope, types and conditions of the trust property.
(5) Ways and means for beneficiaries to obtain trust benefits.
In addition to the matters listed in the preceding paragraph, the term of the trust, the management method of the trust property, the remuneration of the trustee, the way of the new trustee, the reasons for the termination of the trust and other matters may be stipulated.