Freezing refers to the compulsory measures taken by the people's court to prohibit the withdrawal or transfer of the deposits of the respondent in banks, credit cooperatives and other financial units during the period of litigation preservation or execution.
When the people's court takes freezing measures, it shall not freeze the special funds designated by the state in the bank account of the respondent. However, if the respondent uses these names to hide funds to avoid fulfilling his obligations, the people's court may freeze them.
The maximum time limit for freezing the deposit of the person being executed is six months. If you need to continue to freeze, you should go through the freezing procedures at banks, credit cooperatives and other places. Before the expiration of the freeze period. Otherwise, if it is not handled within the time limit, it will be regarded as automatic thawing.
Transfer refers to the measures taken by the people's court to transfer the deposit of a legal person or other organization as the respondent into the respondent's account according to the amount stipulated in the notice of assistance in execution of the people's court. The transfer of deposits can be carried out on the basis of freezing or direct transfer without freezing.
When the people's court takes measures of inquiry, freezing and allocation, it may directly submit them to the banking office, savings office and credit cooperative without the consent of its superior competent unit. A foreign people's court may directly inquire, freeze or transfer the deposits of banks or credit cooperatives in the place where the respondent has his domicile or where the property under execution is located without the consent of the local people's court or other formalities. Local banks and credit cooperatives must assist in handling, and may not refuse or shirk for any reason such as withholding loans or loan interest. If a person refuses to assist, the people's court may impose a fine in accordance with the provisions of the Civil Procedure Law, and suggest that the supervisory organ or the relevant authorities give disciplinary sanctions.
Legal basis: People's Republic of China (PRC) Civil Procedure Law.
Article 242 If the person subjected to execution fails to perform the obligations specified in the legal documents according to the notice of execution, the people's court has the right to inquire about the deposits, bonds, stocks, fund shares and other properties of the person subjected to execution. From the relevant units. The people's court has the right to seal up, freeze, transfer or change the property of the person subjected to execution according to different circumstances. The property inquired, sealed up, frozen, transferred or changed in price by the people's court shall not exceed the scope of obligations that the person subjected to execution shall perform. When the people's court decides to seal up, freeze, transfer or change the price of property, it shall make a ruling and issue a notice of assistance in execution, which the relevant units must handle.
Article 244 If the person subjected to execution fails to perform the obligations specified in the legal document according to the notice of execution, the people's court has the right to seal up, detain, freeze, auction or sell off the property that the person subjected to execution should perform. However, the necessities of life of the person subjected to execution and his dependents shall be retained. The people's court shall make a ruling on taking the measures mentioned in the preceding paragraph.