Abstract: The Third Party Logistics(3DL) hard working is an important factor to carry out the operation of warehouse receipt pledge effectively and to ensure the safety of bank loan. Given pledged inventory has an important impact on the enterprises’ production and operation, using the pricipal-agent thoery, the bank payment with enterprises’ participation is studied, and monitoring based on inspiriting 3PL is considered. The results show 3PL’ effort doesn’t change, but amount of bank payment becomes fewer when enterprises participate in inspiriting 3PL. If supervising 3PL based on inspiriting to it, 3PL will work harder.The research also indicates that in certain situation,banks may provide a loan although a specific inventory is not good, such as price fluctuating, unstable quality, and poor liquidity. The benefits by the operation may be higher. These conclusions help bank enhance enthusiasm to develop the warehouse receipt pledge operation.