- What is a counter guarantee? A counter-guarantee is also called a claim guarantee. It means that when the third party provides the creditor with a guarantee, the debtor should make a guarantee or a guarantee for the third person at the request of the third party. When the guarantor suffers losses due to the settlement of the debtor’s debt, the debtor is required to use a guarantee or...
- What is the difference between counter-guarantee and guarantee? Counter-guarantee, also known as claim guarantee, refers to the guarantee set for the realization of the debtor’s right of recovery after the guarantor other than the debtor assumes the guarantee liability in the future. Counter-guarantee measures include mortgage counter-guarantee, pledge counter-guarantee, guarantee counter-guarantee, pledge of accounts receivable...
- The essence and role of counter-guarantee The establishment of counter-guarantee is to share the guarantee responsibility. In the contract with heavy guarantee liability, the greater the establishment of counter-guarantee liability, the smaller the guarantee liability assumed by each guarantor, and the lower the risk of property loss. In real life, it is often because of a special...
- Conditions for the establishment of counter guarantee Counter-guarantee is an effective measure to safeguard the interests of the guarantor and guarantee the realization of the recovery right that may occur in the future. Article 4 of China's Guarantee Law stipulates that when a third party provides a guarantee to a creditor, the debtor may request the debtor to provide a counter-guarantee. The counter-guarantee applies to this law...
- Responsibility for counter guarantee The counter-guarantee needs to fulfill the following responsibilities: 1. After the guarantee center assumes the guarantee responsibility, it has the right to exercise the corresponding rights according to the counter-guarantee contract. 2. When the guarantee center exercises the mortgage, it can negotiate with the mortgagor to discount the price or auction or sell the collateral; if the agreement fails, the agreement can be...
What does counter guarantee mean?
ApplyingSecured loanWhen the borrower is sometimes asked to provide counter-guarantee measures, it can be successfully obtained.loan. However, "anti-guarantee" is a very professional vocabulary. For the novice loaner, it is really a bit of a monk who can't figure it out. But don't worry,Rong 360 loanExperts will answer this for you.
To know what a counter-guarantee is, you need to start with a guarantee. As a guarantor, when the borrower is unable to repay the loan, it will perform the guarantee obligation and repay the remaining principal and interest. For the sake of insurance, the guarantee party guarantees the realization of its recovery right, and the borrower will provide the collateral for counter-guarantee.
Counter-guarantee is often used between the guarantee company and the borrower. In general, in order to make a profit and reduce the risk of the loan, the bank usually allows the user with insufficient qualifications to find the guarantee company and guarantee the loan under the guarantee of the guarantee company. The purpose of the bank is to pass the risk on the guarantee company. When the borrower refuses to repay the loan, the guarantee company must replace the borrower and pay the bank.
How to compensate for the loss of the guarantee company? As a guarantee company, it will certainly not be willing to bear these losses, so the borrower will be required to provide certain collateral as a guarantee to guarantee the interests of the guarantee company. If the borrower refuses to repay the loan, the guarantee company has the right to file a lawsuit with the court to seal up and sell the collateral to make up for the economic loss.
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