Is Tian Rong Financing Liability Guarantee Co., Ltd. true?

A financing guarantee company refers to a limited liability company and a joint stock limited company established according to law and engaged in financing guarantee business. Financing guarantee refers to the behavior that the guarantor agrees with creditors such as banking financial institutions that when the guarantor fails to perform the financing debts owed to the creditors, the guarantor shall bear the guarantee responsibilities stipulated in the contract according to law.

With the approval of the regulatory authorities, a financing guarantee company may engage in some or all of the following financing guarantee businesses:

(1) loan guarantee;

(2) Bill acceptance guarantee;

(3) Trade financing guarantee;

(4) Project financing guarantee;

(5) letter of credit guarantee;

(6) Other financing guarantee businesses.

At the same time, with the approval of the regulatory authorities, a financing guarantee company may concurrently engage in some or all of the following businesses:

(a) litigation preservation guarantee;

(2) Other performance guarantee services such as bid guarantee, advance payment guarantee, project performance guarantee and final payment guarantee;

(3) Intermediary services such as financing consultation and financial consultancy related to the guarantee business;

(four) to invest with its own funds;

(5) Other businesses specified by the regulatory authorities.

In addition, a financing guarantee company can provide re-guarantee for the guarantee liability of other financing guarantee companies and handle the bond issuance guarantee business, but it shall meet the following conditions at the same time:

(1) It has no record of bad laws and regulations in the past two years;

(2) Other prudential conditions stipulated by the regulatory authorities. Among them, the financing guarantee company engaged in the re-guarantee business shall not only meet the above conditions, but also have a registered capital of not less than RMB 654.38 billion and have been in business for more than two years.

However, the regulatory authorities also stipulate that financing guarantee companies shall not engage in the following activities:

(1) Absorbing deposits;

(2) granting loans;

(three) entrusted to issue loans;

(4) Entrusted investment;

(five) other activities prohibited by the regulatory authorities.

If a financing guarantee company engages in illegal fund-raising activities, it shall be investigated and dealt with by the relevant departments according to law.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.