Popular interpretation of counter guarantee, what is popular interpretation of counter guarantee

A counter-guarantee, also known as a claim guarantee, a repayment agreement or a counter-guarantee, refers to a guarantee created to ensure the realization of the debtor's right of recovery after the guarantor other than the debtor assumes the guarantee liability in the future.

A counter-guarantee refers to a guarantee or creation made by the debtor or a third party to the guarantor, and the debtor pays off the guarantor when the guarantor suffers losses due to the repayment of the debtor's debts. It reflects the stake relationship between the two. In insurance business, the payment guarantee issued by the insurer for the subject matter of insurance usually includes the part that the insured should bear, that is, the insured should issue a guarantee certificate for which the insurer is responsible, that is, the insured provides a counter-guarantee to the insurer.

Also known as a repayment agreement or counter-guarantee.

A counter-guarantee refers to a guarantee that a third party guaranteeing the debtor is required to provide by the debtor in order to ensure the realization of its right of recovery. At the expiration of the debt repayment period, when the debtor fails to perform the debt, the third party shall become the debtor's creditor after the third party assumes the guarantee liability, and the third party shall have the right to recover from the debtor for the debts it has paid on behalf of the debtor. In order to ensure the realization of the right of recovery, the third party may require the debtor to provide security for the debtor when it provides security for the debtor, and the guarantee provided by the debtor for the guarantor in turn is called a counter-guarantee.

The counter-guarantee has the function of guaranteeing the realization of bonds and maintaining the security of transactions!

The popular interpretation of counter-guarantee is: counter-guarantee refers to the act of a third party providing a guarantee for the debtor to the creditor at the same time, and in turn requiring the debtor (borrower) to provide security for itself (the guarantor), which can be called the guarantee of the guarantee, that is, the guarantee provided for the guarantor. A counter-guarantee is a guarantee for the claim obtained by the guarantor after the performance of the guarantee obligation.

As long as the guarantor fulfills the guarantee obligation, it can claim compensation from the counter-guarantor, regardless of whether the guarantor performs it correctly or not, and the counter-guarantee is an indirect guarantee in nature, because it does not directly guarantee the main debt, but guarantees the debt guarantee borne by the guarantor. According to Article 387 of the Civil Code of the People's Republic of China, if a creditor needs security in order to ensure the realization of its creditor's rights in civil activities such as lending and trading, it may create a security interest in accordance with the provisions of this Law and other laws.

Where a third party provides security to the creditor for the debtor, the debtor may be required to provide a counter-guarantee. Counter-guarantees shall be governed by the provisions of this Law and other laws. Article 689 of the Civil Code of the People's Republic of China provides:

The guarantor may request a counter-guarantee from the debtor.

Summary. Civil Procedure Law of the People's Republic of China》 Article 242: If the person subject to enforcement fails to perform the obligations set forth in the legal document in accordance with the enforcement notice, the people's court has the right to inquire about the property of the person subject to enforcement, such as deposits, bonds, and shares. The people's courts have the right to seize, freeze, transfer, or sell the property of the person subject to enforcement according to different circumstances.

People's courts must not inquire about, seize, freeze, transfer, or sell property beyond the scope of the obligations that the person subject to enforcement shall perform. When a people's court decides to seize, freeze, transfer, or convert property, it shall make a ruling and issue a notice of assistance in enforcement, and the relevant units must handle it.

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What does counter-guarantee mean? There will be no risks.

What does counter-guarantee mean? There will be no risks.

For example, Zhang San owes Li Si money, Wang Wu makes a guarantee, Wang Wu makes a guarantee because of the risk, and Wang Wu asks Li Si to make a guarantee.

This is a counter-guarantee.

Civil Procedure Law of the People's Republic of China》 Article 242: If the person subject to enforcement fails to perform the obligations set forth in the legal document in accordance with the enforcement notice, the people's court has the right to inquire about the property of the person subject to enforcement, such as deposits, bonds, and shares. The people's courts have the right to seize, freeze, transfer, or sell the property of the person subject to enforcement on the basis of different circumstances. The people's courts' inquiries, seizures, freezing, allocation, or conversion of property must not exceed the scope of Li Xiang's judgment debtor's performance of obligations.

When a people's court decides to seize, freeze, transfer, or convert property, it shall make a ruling and issue a notice of assistance in enforcement, and the relevant units must handle it.

For example, Zhang San owes Li Siqian and Wang Wu makes a guarantee, and it is risky for Wang Wu to make a guarantee, and Wang Wu asks Zhang San to make a guarantee.

If I sign a counter-guarantee, do I need to bear the debt to the person who owes it?

If I sign a counter-guarantee, do I need to bear the debt to the person who owes it?

No, you don't. It's just that you need to bear the risk of being pursued by creditors if the debtor does not pay the debt.

Legal analysis: Counter-guarantee means that the debtor or a third party makes a guarantee to the guarantor to protect the certificate or the creation, and when the guarantor suffers losses due to the repayment of the debtor's debts, the debtor makes a return to the guarantor.

Legal basis: Civil Code of the People's Republic of China

Article 387:Where a creditor needs security in order to ensure the realization of its creditor's rights in civil activities such as lending or trading, it may create a security interest in accordance with the provisions of this Law and other laws.

Article 689:The guarantor may request the debtor to provide a counter-guarantee.

Legal analysis: Counter-guarantee refers to the guarantee or creation of a guarantee made by the debtor or a third party to the guarantor, and the guarantor makes repayment to the guarantor when the guarantor suffers losses due to the repayment of the debtor's debts.

In order to ensure the realization of the right of recovery, the third party may require the debtor to provide security for the debtor when it provides security for the debtor, and the guarantee provided by the debtor for the guarantor in turn is called a counter-guarantee.

Legal basis: Article 188 of the Civil Code of the People's Republic of China: The statute of limitations for requesting protection of civil rights from the people's courts is three years. Where the law provides otherwise, follow those provisions.

The limitation period is calculated from the date on which the right holder knows or should know that the right has been infringed, Fengkai and the obligor. Where the law provides otherwise, follow those provisions. However, if more than 20 years have elapsed since the date on which the right was infringed by filial piety, the people's court will not protect it, and if there are special circumstances, the people's court may decide to extend the rights holder on the basis of the application.

To put it simply, if B asks A to borrow money, and A says that he needs a guarantee to borrow money, so B finds C to guarantee himself, and in order to let C feel at ease to guarantee himself, reduce the risk of C, (because if B does not repay the money, C will have a creditor's rights and debts relationship with A), B in turn re-guarantees C, which is a "counter-guarantee".