SPV是应收帐款证券化中特设目的实体(Special Purpose Vehicle)的简称,SPV作为原始权益人和证券投资者之间的中介体,是应收帐款证券化最关键的制度设计。SPV具有独特的法律特征,具体表现为SPV法律地位的独立性、业务范围的限制性、受让应收帐款的真实性、应收帐款价值的不确定性以及信用级别的增强性。 SPV is the abbreviation of Special Purpose Vehicle in the securitization of accounts receivable. As the intermediary between the original equity holders and the securities investors, the SPV is the most important system design of receivables securitization. SPV has unique legal characteristics, which are manifested in the independence of SPV’s legal status, the restriction of business scope, the authenticity of receivables receivables, the uncertainty of the value of receivables and the enhancement of credit rating.