Responsibility of company guarantor

Legal analysis: First, the general guarantee responsibility. Its responsibility is that when the debtor can't pay off the due debt, the guarantor should bear the responsibility, that is, pay off the due debt. Second, joint and several liability. The creditor's responsibility to pay means that when the debt reaches the repayment period, the creditor has the right to ask the debtor or guarantor to repay the debt. When the guarantee is a general guarantee, the guarantor has the right of defense, that is, the guarantor has the right to refuse the creditor's repayment request before the creditor applies to enforce the debtor's property or fails to enforce the security interest. Co-guarantors have no such right.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 699 Where there are more than two guarantors for the same debt, the guarantors shall bear the suretyship liability according to the share of suretyship agreed in the suretyship contract; If there is no agreement on the share of guarantee, the creditor may require any guarantor to bear the guarantee responsibility within the scope of its guarantee.

Article 687 General Guarantee refers to the guarantee that the guarantor shall bear the guarantee liability when the debtor fails to perform the debt, as stipulated by the parties in the guarantee contract. The guarantor of a general guarantee has the right to refuse to assume the guarantee liability to the creditor before the main contract dispute has been tried or arbitrated and the debtor's property has been enforced according to law, except in one of the following circumstances: (1) the debtor's whereabouts are unknown and there is no property available for execution; (2) The people's court has accepted the bankruptcy case of the debtor; (3) The creditor has evidence to prove that the debtor's property is insufficient to perform all debts or cannot perform debts; (4) The Guarantor waives the rights stipulated in this clause in writing.