Is the guarantee fee legal
2024-02-24
Lawyer's analysis: generally, the guarantee fee is legal, but the specific one needs to be determined according to the agreement of both parties in the loan contract. As long as it does not exceed the terms stipulated by the law, it can generally protect the interests of creditors. When the debtor and creditor write the loan contract, they need to clearly indicate the borrower, the time of borrowing, the amount of borrowing, as well as the time of borrowing, the time of repayment, and the interest payable at the time of repayment. If there is a breach of contract, a penalty should also be paid. As long as it is clearly indicated, disputes between both parties can be avoided.