What nature should a financing guarantee company belong to?

The guarantor of a financing guarantee company has agreed with creditors such as banking financial institutions 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. In other words, the financing guarantee company belongs to the nature of joint liability and provides loan guarantee for lenders.

The establishment of a financing guarantee company shall meet the following conditions:

(1) Having articles of association that conform to the provisions of the Company Law of People's Republic of China (PRC);

(2) There are shareholders who can contribute continuously;

(3) Having registered capital that meets the requirements of these Measures;

The minimum registered capital of a financing guarantee company shall be determined by the regulatory authorities of all provinces, autonomous regions and municipalities directly under the Central Government according to local actual conditions, but it shall not be less than 5 million yuan. In other words, the minimum registered capital for the establishment of financing guarantee companies in all provinces, autonomous regions and municipalities directly under the Central Government is determined according to the actual needs of local economic and social development and the development of financing guarantee industry.

It shall be decided by the local regulatory authorities, but the registered capital of a financing guarantee company established in any region shall not be less than 5 million yuan.

(4) Having qualified directors, supervisors, senior managers and qualified employees;

(5) Having a sound organizational structure, internal control and risk management system;

(6) Having a business place that meets the requirements;

(seven) other prudential conditions stipulated by the regulatory authorities.

Extended data:

Prudent supervision principles of financing guarantee business mainly include the following three aspects:

1. A financing guarantee company shall take safety, liquidity and profitability as its operating principles and establish a continuous and prudent business model for market-oriented operation.

2. Pre-administrative licensing shall be implemented for the market access and business scope of financing guarantee companies and their branches, and a license management system shall be implemented.

3. Prudent supervision over the capital, magnification, provision, corporate governance, internal control, risk concentration, related party transactions, information disclosure and qualification management of senior managers and employees of financing guarantee institutions.

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