- What is anti-guarantee Counter-guarantee is also called the guarantee of claim. It means that when the third party provides the creditor with guarantee for the debtor, the debtor should guarantee the third party to guarantee or set the object at the request of the third party. When the guarantor suffers losses due to the debts of the debtor, the debtor needs to use guarantees or...
- What is the difference between counter guarantee and guarantee? Anti-guarantee, also known as guarantee, refers to a guarantee set up to guarantee the realization of the debtor’s right of repayment 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 anti-guarantee is in essence the sharing of guarantee responsibilities. In the contracts with heavier guarantee responsibilities, the greater the establishment of counter guaranty responsibilities, the smaller the guarantor's guaranty responsibilities and the relatively less risk of its property losses. In real life, it often happens because of something special...
- The conditions for the establishment of counter-guarantees Counter-guarantee is an effective measure to safeguard the interests of the guarantor and guarantee the realization of the recourse right that may occur in the future. Article 4 of China's "Guarantee Law" stipulates that when a third party provides a creditor with a guarantee, it may require the debtor to provide counter-guarantees. Anti-guarantee applies to this law ...
- Anti-guarantee liability Anti-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 under the counter-guarantee contract. 2. When the guarantee center exercises the mortgage, it may negotiate with the mortgagor to discount the mortgage or auction or sell it; if the agreement is not successful, it can...
What does counter-guarantee mean?
In the applicationSecured loanAt times, borrowers are sometimes required to provide counter-guarantee measures in order to successfully obtainloan. However, "anti-guaranteeing" is, after all, a very professional vocabulary. For rookie novices, it is really a bit of a monk's monk. But don't worry,Financial 360 LoanExperts will answer this question for you.
To know what a counter-guarantee is, you need to start with what the guarantee is. As the guarantor, when the borrower is unable to repay the loan, it will perform the obligation of guarantee and pay the remaining principal and interest on its behalf. However, for the sake of insurance, the guarantor only guarantees the realization of its right to recourse, so that the borrower can provide collateral for counter-guarantee.
Counter-guarantees are often applied between the guarantee company and the borrower. In general, in order to make profits and reduce the risk of loans, banks usually allow users with insufficient personal qualifications to find a guarantee company and only under the guarantee of the guarantee company can they approve the loan. The purpose of this bank is nothing more than to pass the risk to the guarantee company. When the borrower refuses to repay the loan, the guarantee company must replace the borrower and return the money to the bank.
How can the loss of the guarantee company be compensated? As a guarantee company will certainly not be willing to bear these losses, so it will require the borrower to provide certain collateral as a guarantee to ensure the interests of the security company. If the borrower refuses to repay the loan, the security company will have the right to file a lawsuit with the court to require the seizure and sale of the mortgaged property to make up for the economic loss.
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