Enquiring knowledgeable people Inquisitive education Hospital Treasury

How long will the guarantor of joint and several liability be exempted from liability in the Civil Code

home page

How long will the guarantor of joint and several liability be exempted from liability in the Civil Code


        

Submit answer
Favorable reply
  • 2024-06-15 07:01:53

    Generally six months, unless otherwise agreed by the guarantor and the creditor. If the guarantor of the joint and several liability guarantee and the creditor have not agreed on the guarantee period, the creditor has the right to require the guarantor to assume the guarantee liability within six months from the date of expiration of the performance period of the autonomous debt. If the creditor does not require the surety to bear the suretyship liability during the suretyship period agreed in the contract or specified in the preceding paragraph, the surety shall be exempted from the suretyship liability.

    Legal basis:

    Article 692 of the Civil Code of the People's Republic of China, the suretyship period is the period during which the surety is determined to bear the suretyship liability, without suspension, interruption or extension.

    The creditor and the guarantor may agree on a guarantee period, but if the agreed guarantee period is earlier than or expires at the same time as the main debt performance period, it shall be deemed that there is no agreement; If there is no agreement or the agreement is not clear, the guarantee period shall be six months from the date of expiration of the main debt performance period.

    If the creditor and the debtor have not agreed or clearly agreed on the time limit for performance of the principal debt, the guarantee period shall be calculated from the date when the creditor's grace period for performance of the debtor expires.

    Article 693 Where the creditor of a general suretyship fails to bring a lawsuit or apply for arbitration against the debtor during the suretyship period, the surety shall no longer be liable for the suretyship.

    If the creditor of a suretyship of joint and several liability fails to request the surety to bear the suretyship liability during the suretyship period, the surety shall no longer bear the suretyship liability.

    Article 694 Limitation of Actions for Guaranteed Obligations Where the creditor of a general suretyship brings a suit or applies for arbitration against the debtor before the expiration of the suretyship term, the limitation of actions for guaranteed obligations shall be calculated from the date on which the right of the surety to refuse to assume suretyship liability ceases.

    Where the creditor of a suretyship of joint and several liability requests the surety to bear the suretyship liability before the expiration of the suretyship period, the limitation of action for the suretyship liability shall be calculated from the date on which the creditor requests the surety to bear the suretyship liability.

    He***

    2024-06-15 07:01:53

  • other Relevant knowledge

  • law

Related recommendations

Loading
Latest Q&A Recommendation Hot topics Hot spot recommendation
  • 1-20
  • 21-40
  • 41-60
  • 61-80
  • 81-100
  • 101-120
  • 121-140
  • 141-160
  • 161-180
  • 181-200
  • 1-20
  • 21-40
  • 41-60
  • 61-80
  • 81-100
  • 101-120
  • 121-140
  • 141-160
  • 161-180
  • 181-200
  • 1-20
  • 21-40
  • 41-60
  • 61-80
  • 81-100
  • 101-120
  • 121-140
  • 141-160
  • 161-180
  • 181-200
  • 1-20
  • 21-40
  • 41-60
  • 61-80
  • 81-100
  • 101-120
  • 121-140
  • 141-160
  • 161-180
  • 181-200
return
Top
help opinion
feedback

Confirm to report this problem

Reason for reporting (required):