The cancellation of counter-guarantee in property preservation refers to the cancellation of counter-guarantee obligation after the expiration of the contract if the counter-guarantee obligation has not been agreed upon within the validity period of the counter-guarantee contract or clause. At this time, if the counter-guarantee contract is invalid and the mortgage or pledge has been registered, the cancellation of registration shall be handled at the registration authority. The applicable conditions and scope of property preservation system and litigation injunction system are different. The property preservation system is applicable to ordinary civil litigation, and an application for preservation can be filed before and during the litigation, and the scope of preservation can be all the relevant property of the defendant. Property preservation generally takes the form of seizure or seizure, and the amount is limited to the amount sued by the plaintiff. At present, the prohibition system is only applicable to cases of patent and trademark infringement in China, which is formulated to meet the requirements of TRIPS Agreement after China's entry into WTO. The injunction can also be put forward before or during the litigation, but its main request is that the defendant or interested party stop the infringing act and prohibit the circulation of related infringing articles. In practice, the court is strict in the use of injunctions. Generally speaking, applicants need to provide more adequate guarantees.
Legal basis: Article 103 of the Civil Procedure Law of People's Republic of China (PRC), sealing up, distraining, freezing or other methods prescribed by law. After the people's court has preserved the property, it shall immediately notify the person whose property has been preserved.
Property that has been sealed up or frozen shall not be sealed up or frozen again.