In addition to the general elements of civil legal acts, a bond pledge contract should also meet the following conditions: first, it must specify the money as a bond; Second, the money deposited in the account must be handed over to the lending bank for possession. A pledge is established when it is transferred from the pledged property to the possession of the pledgee.

legal ground

Eighty-fifth "the Supreme People's Court's Interpretation on the Application of Several Issues"

After the debtor or the third party designates its money in the form of special account, seal, deposit, etc., it will be handed over to the creditor for possession as a guarantee for the creditor's rights. When the debtor fails to perform the debt, the creditor can use the money to get the priority.

Article 1 18 of the Supreme People's Court's Interpretation on Several Issues of Application.

The people's court shall not support the payment of retention money, deposit, deposit, contract money, deposit or deposit, but there is no agreement on the nature of the deposit.