What are the responsibilities of the loan guarantor
2016-09-09 01:52:25
If there are two or more guarantor of the same debt, the guarantor shall bear the responsibility for ensuring the share of the contract. There is no guarantee that the share of the guarantor to assume joint and several liability, the creditors may require any Guarantor to assume full responsibility for the guarantee, the guarantor is responsible for all the obligations of the realization of the guarantee. The guarantor who has paid, have the right of recourse against the debtor, the guarantor or other claims jointly and severally liable shall bear its share.
Seventeenth
Where the parties stipulate that the debtor is unable to perform his obligations, the guarantor shall bear the liability of the guarantor, as a general guarantee.
General guarantee that the guarantor in the main contract dispute without trial or arbitration, and the debtor's property in accordance with the law enforcement is still unable to fulfill the debt, the creditor can refuse to bear the responsibility to ensure.
Twenty-fifth
The guarantor and the creditor are not in agreement with the guarantee period, and six months from the date of the expiration of the period of the main debt.
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