Question 1: What matters need to be paid attention to as a financial guarantor? Special provisions for guarantor qualifications
First, legal persons, other organizations or citizens with the ability to pay off debts on behalf of others can serve as guarantors. . However, if a legal person, other organization or natural person who does not have full compensatory capacity, after entering into a guarantee contract as a guarantor, then requests to be exempted from guarantee liability on the grounds that it has no compensatory capacity, the People's Court will not support it.
Second, according to the relevant provisions of the General Principles of the Civil Law, individual industrial and commercial households and rural contract operators are a special form of citizens. Therefore, citizens who serve as guarantors can also be individual industrial and commercial households or rural contract operators.
Third, those who can serve as guarantors include: sole proprietorships and partnerships that have registered and received business licenses in accordance with the law; joint ventures that have registered and received their business licenses in accordance with the law; Sino-foreign cooperative enterprises that have registered and received their business licenses in accordance with the law; Social groups approved and registered by the department; township, street, and village-run enterprises that have been approved and registered to obtain business licenses.
Fourth, if a branch of an enterprise legal person provides a guarantee without the written authorization of the legal person, the guarantee contract will be invalid. If the functional department of an enterprise legal person provides a guarantee, the guarantee contract shall be invalid.
Fifth, public institutions and social groups with public welfare purposes are not allowed to act as guarantors. If a public institution or social group engaged in business activities is the guarantor, the guarantee contract signed by it shall be deemed valid if there are no other circumstances that would render the guarantee contract invalid.
Sixth, in the process of accepting loans from foreign governments or international economic organizations, state agencies can serve as guarantors with the approval of the State Council. Acting as a guarantor is not allowed under other circumstances. Before agreeing to act as a guarantor, you must understand the following possible consequences.
a) You may be charged. If a borrower defaults on the loan and you owe money, the bank or financial company will sue you. b) You may be declared bankrupt. If your debt exceeds RM30,000, you may be declared bankrupt. c) Multiple guarantors are not safe. Don’t think that having multiple guarantors means you feel safe. The debt is not necessarily borne equally by multiple guarantors. Banks also do not need to choose to collect debts from wealthier guarantors. The lender has the option to pursue the debt from all or one of the guarantors.
d) Death does not mean release of guarantee. It depends on what type of guarantee it is. If it is a joint guarantee involving multiple guarantees, after the guarantor dies, his estate can still be used to repay the debt. However, if it is just a joint guarantee, the estate does not need to be used to repay the debt.
According to the Central Bank's guidelines, the guarantor has the following rights:
Can hold a guarantee contract and other relevant documents.
As long as the borrower agrees, the loan amount from the financial institution can be known.
The borrower can be sued if the former needs to repay the debt owed to the financial company. The guarantor usually receives a copy of the demand letter addressed to the borrower.
Can limit the guarantee to only one specific loan. If the borrower wants to increase the loan amount after a few years, he must make a new loan application, and at least obtain the written consent of the guarantor to guarantee the new loan.
Unless the borrower defaults on the loan and fails to repay the loan, the financial institution can collect the debt from the guarantor.
The financial institution must send the debt repayment request letter to the guarantor before it can pursue the debt from the latter.
Question 2: When an economic dispute occurs, should the guarantor be approached first? It depends on the nature of the guarantee. Generally, the principal debtor is approached first. If the principal debtor refuses, then find a guarantor.
1. According to their nature, guarantees can be divided into general guarantees and joint guarantees.
1. General guarantee refers to a guarantee in which the parties agree in the guarantee contract that when the debtor cannot perform the debt, the guarantor shall bear the guarantee liability.
2. Joint liability guarantee refers to a guarantee in which the parties agree in the guarantee contract that the guarantor and the debtor shall bear joint and several liability for the debt.
The biggest difference between these two guarantees is whether the guarantor has the right to sue first. In the case of a general guarantee, the guarantor enjoys the right of first-suit defense, that is, "the guarantor of a general guarantee can refuse to assume guarantee liability to the creditor before the main contract dispute has not been tried or arbitrated, and the debtor's property has been legally enforced and the debt cannot be fulfilled." .
In the case of a joint and several liability guarantee, the guarantor does not have the right to plead first, that is, "if the debtor under a joint liability guarantee fails to perform the debt at the expiration of the debt performance period stipulated in the main contract, the creditor may require the debtor to perform the debt, or the guarantor may be required to bear warranty liability within the scope of its warranty."
2. Relevant legal provisions on the duration of general guarantees and joint guarantees:
1. Article 25 of the "Guarantee Law" stipulates: The guarantor of a general guarantee and the creditor have not agreed on a guarantee If the period is within a certain period, the guarantee period shall be six months from the expiration date of the main debt performance period.
During the guarantee period stipulated in the contract and the guarantee period stipulated in the preceding paragraph, if the creditor does not file a lawsuit against the debtor or apply for arbitration, the guarantor shall be exempted from the guarantee liability; if the creditor has filed a lawsuit or applied for arbitration, the lawsuit shall apply during the guarantee period. Interruption of statute of limitations provisions.
2. Article 26 stipulates: If the guarantor of a joint liability guarantee and the creditor have not agreed on a guarantee period, the creditor has the right to require the guarantor to assume the guarantee liability within six months from the expiration of the debt performance period.
If the creditor does not require the guarantor to bear guarantee liability during the guarantee period agreed in the contract and the guarantee period stipulated in the preceding paragraph, the guarantor shall be exempted from guarantee liability.
Article 31 of the "Interpretation of the Guarantee Law": The guarantee period shall not be interrupted, suspended or extended for any reason.
3. Article 32: If the guarantee period stipulated in the guarantee contract is earlier than or equal to the main debt performance period, it shall be deemed that there is no agreement, and the guarantee period shall be six months from the expiration date of the main debt performance period. .
If the guarantee contract stipulates that the guarantor shall bear the guarantee liability until the principal debt principal and interest are repaid, or other similar content, the agreement shall be deemed to be unclear, and the guarantee period shall be two years from the expiration date of the principal debt performance period.
3. The statute of limitations for claims is 2 years, while the warranty period is generally 6 months.
Therefore, when there is a dispute, first go to the debtor and ask him to perform; once the debtor refuses to perform the debt, he should claim rights against the guarantor within 6 months from the date of performance stipulated in the original contract. After 6 months, the guarantor may be relieved of liability. The statute of limitations for the entire debt is two years, that is, the guarantor's liability is exempted, but the debtor's liability is not. If the lawsuit is filed within two years, the court will still provide compulsory protection.
Question 3: How much responsibility does the guarantor have in economic dispute cases? Article 18 If the parties agree in the guarantee contract that the guarantor and the debtor shall bear joint and several liability for the debt, it is a joint liability guarantee. If the debtor under a joint liability guarantee fails to perform the debt at the expiration of the debt performance period stipulated in the main contract, the creditor may require the debtor to perform the debt or require the guarantor to assume the guarantee liability within the scope of its guarantee. Article 21 The scope of the guarantee includes the main creditor's rights and interest, liquidated damages, damages and costs for realizing the creditor's rights. If the guarantee contract stipulates otherwise, the stipulation shall prevail. If the parties have not agreed on the scope of the guarantee or the agreement is unclear, the guarantor shall bear liability for all debts. Article 31 After assuming the guarantee liability, the guarantor has the right to recover compensation from the debtor. Lawyer Wu Bin from Bank of China (Shanghai) Law Firm
Question 4: What is the meaning of guarantee? [Meaning of guarantee] Guarantee means that in economic and financial activities, in order to prevent risks arising from the debtor's default and reduce financial losses, the debtor or a third party provides a performance guarantee or assumes corresponding responsibilities with finance or credit to ensure the realization of the creditor's rights. an economic behavior. As a guarantor, a guarantee company assumes the responsibility of ensuring that the debtor performs its debt as promised after signing a financing and other guarantee agreement with the creditor and debtor. Guarantee companies deal in risks and the product they provide is credit. [Methods of guarantee] There are usually three types of guarantees: mortgage, pledge and guarantee. Guarantee is a credit guarantee, which is divided into general guarantee and joint liability guarantee. It means that a third party guarantees the debtor's debt performance. It is agreed between the guarantor and the creditor. When the debtor fails to perform the debt, the guarantor will perform the debt or bear the responsibility according to the agreement. Mortgage means that the debtor or a third party does not transfer possession of the legally mortgaged property and uses the property as security for the creditor's rights. Collateral includes real estate, machinery and equipment, transportation vehicles and other properties. Pledge includes movable property pledge and rights pledge, which refers to the guarantee using the movable property or rights of the debtor or a third party as pledge.
The collateral includes bills of exchange, checks, promissory notes, bonds, deposit receipts, warehouse receipts, bills of lading, shares, stocks, trademark rights, patent rights, property rights in copyrights, and other rights that can be pledged according to law.
Question 5: What is the meaning of guarantee? [Meaning of guarantee]
Guarantee means that in economic and financial activities, in order to prevent the risks arising from the debtor's default and reduce financial losses, the debtor or a third party provides a performance guarantee or credit guarantee by the debtor or a third party. It is an economic act to assume corresponding responsibilities and ensure the realization of creditor's rights. As a guarantor, a guarantee company assumes the responsibility of ensuring that the debtor performs its debt as promised after signing a financing and other guarantee agreement with the creditor and debtor. Guarantee companies deal in risks and the product they provide is credit.
[Methods of guarantee]
There are usually three types of guarantees: mortgage, pledge and guarantee.
Guarantee is a credit guarantee, which is divided into general guarantee and joint liability guarantee. It means that a third party guarantees the performance of the debt of the debtor. It is agreed by the guarantor and the creditor. When the debtor fails to perform the debt, the guarantor will perform the debt according to the agreement. Or take responsibility. Mortgage means that the debtor or a third party does not transfer possession of the legally mortgaged property and uses the property as security for the creditor's rights. Collateral includes real estate, machinery and equipment, transportation vehicles and other properties. Pledge includes movable property pledge and rights pledge, which refers to the guarantee using the movable property or rights of the debtor or a third party as pledge. The collateral includes bills of exchange, checks, promissory notes, bonds, deposit receipts, warehouse receipts, bills of lading, shares, stocks, trademark rights, patent rights, property rights in copyrights, and other rights that can be pledged in accordance with the law.
Question 6: What is the meaning of bail guarantee for economic crimes? The compulsory measures have been changed. Those who are released on bail pending trial must provide a guarantee to ensure that they can be available at any time.
Guarantees are generally divided into property insurance and personal insurance.
Anyone who violates the regulations on bail pending trial will have the deposit confiscated, or the guarantor will be detained or fined.
Question 7: What is economic guarantee? Generally speaking, financial guarantees for studying abroad are mostly formulated based on a country's current average tuition and living expenses, and are used to determine whether international students have sufficient financial ability to complete their studies. Because there are certain differences in prices and consumption indexes between countries, the amount of financial guarantee for studying abroad varies. Except for Germany, the applicant's financial guarantee can be calculated using this formula: (average consumption level/year + tuition fee/year) of the country of destination × planned number of years to study abroad) × (20% ~ 50%).
Judging from the current situation, the cost of studying abroad in the United Kingdom and the United States is the highest. Canada, Australia, New Zealand 500,000 to 600,000 yuan
Guarantee for studying abroad. To apply to study in Japan, a study abroad guarantee of 3 million yen (approximately 210,000 yuan) is generally required. When applying to study in Germany, public universities are free, so no matter how long the study abroad period is, the applicant only needs to provide a study abroad guarantee of 12,500 marks (approximately 50,000 yuan). Some Southeast Asian countries do not even require any proof of financial guarantee.
Question 8: What does the economic contract guarantee (excluding financing guarantee) mean when written in the business license? Financing refers to the monetary means used to raise funds to obtain assets. Financing usually refers to the direct or indirect financing activities between holders of monetary funds and demanders.
Mainly it is the financing problem of small and medium-sized enterprises in the market now. It is a guarantee company that has been popular on the market some time ago to solve the problem of capital flow between private individuals and small and medium-sized enterprises. Small and medium-sized enterprises often experience capital shortages during economic crises and need capital injection to ease the company's operations or repay debts (financing difficulties), so they find guarantee companies to build bridges and pool private funds to provide these small and medium-sized enterprises with funds. Business inflow. The guarantee company benefits from this.
What is written in the business license means that the company's business scope does not contain such guarantees.
Question 9: What does guarantee mean? To put it simply, guarantee means responsibility. If A borrows 10,000 yuan from B and you guarantee A, then if A still fails to pay the money in the future, you will have to pay it back.