Financing guarantee refers to the behavior that the guarantor agrees with creditors such as banking financial institutions that the guarantor shall bear the guarantee liability stipulated in the contract according to law when the guarantor fails to perform the financing debts owed to the creditors. The financing guarantee institution refers to the institution that provides guarantee for the financing between the guarantor and the banking financial institution. Financing guarantee is one of the most important types of guarantee business, which is a kind of credit intermediary behavior with the development needs of commercial credit and financial credit and the financing needs of the guaranteed object.
Legal objectivity:
The full text of the Interim Measures for the Administration of Financing Guarantee Companies Article 2 The term "financing guarantee" as mentioned in these Measures refers to the act that the guarantor and the creditors such as banking financial institutions agree that when the guaranteed party fails to perform the financing debts owed to the creditors, the guarantor shall bear the guarantee responsibilities stipulated in the contract according to law. The term "financing guarantee company" as mentioned in these Measures refers to limited liability companies and joint stock limited companies established according to law and engaged in financing guarantee business. The term "regulatory authorities" as mentioned in these Measures refers to the departments designated by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government to be responsible for the supervision and administration of financing guarantee companies in their respective jurisdictions.