Provisions of the Supreme People's Court on Several Issues Concerning the Guaranteeing of Enforcement
Provisions of the Supreme People's Court on Several Issues Concerning the Guaranteeing of Enforcement
Provisions of the Supreme People's Court on Several Issues Concerning the Guaranteeing of Enforcement
February 23, 2018
For the purpose of further standardizing the guaranteeing of enforcement and protecting the legal rights and interests of the parties concerned and interested parties, these Provisions are formulated in accordance with the Civil Procedure Law of the People's Republic of China and other applicable laws and regulations and in consideration of practical enforcement.
Article 1 For the purpose of these Provisions, a guarantee of enforcement means the guarantee, provided by the guarantor before the people's court in accordance with Article 231 of the Civil Procedure Law, that the party subject to enforcement will fulfill its obligations, in whole or in part, specified in the effective legal instrument.
Article 2 A guarantee of enforcement may be the guarantee provided by the party subject to enforcement with its property, or the guarantee provided by another party with its property or the warranty given by another party.
Article 3 Where a guarantee is provided by the party subject to enforcement or another party, it shall issue a letter of guarantee to the people's court, and send a copy of such letter to the enforcement applicant.
Article 4 The letter of guarantee shall clearly specify the basic information of the guarantor, duration of suspended enforcement, guarantee period, category and amount of the guaranteed creditor's rights, guarantee coverage, means of guarantee, the promise of the guarantor that it voluntarily accepts the direct compulsory enforcement if the party subject to enforcement still refuses to perform its duties after the duration of suspended enforcement has expired, etc.
Where the guarantee is provided with property, the letter of guarantee shall also specify the name, quantity, quality, status, location and ownership of the pledged property or who holds the right to use such property, etc.
Article 5 Where a company provides the guarantee of enforcement for the party subject to enforcement, it shall submit its articles of association and the resolution adopted by the board of directors or board of shareholders or at the general meeting of shareholders, which shall be in line with Article 16 of the Company Law.
Article 6 Where the party subject to enforcement or another party provides the guarantee of enforcement, the enforcement applicant shall issue written consent to the people's court if it agrees with the provision of a guarantee; alternatively, the enforcement officers can include the applicant's consent in the written record and have the applicant sign or stamp the record.
Article 7 Where the party subject to enforcement or another party provides the guarantee with its property, it may handle the registration and other formalities to publicize real rights for security, in accordance with the Real Rights Law and the Security Law; if such formalities have been completed, the enforcement applicant may claim its priority for repayment according to the law.
Where the enforcement applicant claims before the people's court to have the pledged property sealed up, detained or frozen, the people's court shall agree to its claim, unless otherwise specified in the letter of guarantee.
Article 8 Where the people's court decides to defer enforcement, it is possible to have all enforcement measures suspended and postponed, unless otherwise specified in the letter of guarantee.
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February 23, 2018
For the purpose of further standardizing the guaranteeing of enforcement and protecting the legal rights and interests of the parties concerned and interested parties, these Provisions are formulated in accordance with the Civil Procedure Law of the People's Republic of China and other applicable laws and regulations and in consideration of practical enforcement.
Article 1 For the purpose of these Provisions, a guarantee of enforcement means the guarantee, provided by the guarantor before the people's court in accordance with Article 231 of the Civil Procedure Law, that the party subject to enforcement will fulfill its obligations, in whole or in part, specified in the effective legal instrument.
Article 2 A guarantee of enforcement may be the guarantee provided by the party subject to enforcement with its property, or the guarantee provided by another party with its property or the warranty given by another party.
Article 3 Where a guarantee is provided by the party subject to enforcement or another party, it shall issue a letter of guarantee to the people's court, and send a copy of such letter to the enforcement applicant.
Article 4 The letter of guarantee shall clearly specify the basic information of the guarantor, duration of suspended enforcement, guarantee period, category and amount of the guaranteed creditor's rights, guarantee coverage, means of guarantee, the promise of the guarantor that it voluntarily accepts the direct compulsory enforcement if the party subject to enforcement still refuses to perform its duties after the duration of suspended enforcement has expired, etc.
Where the guarantee is provided with property, the letter of guarantee shall also specify the name, quantity, quality, status, location and ownership of the pledged property or who holds the right to use such property, etc.
Article 5 Where a company provides the guarantee of enforcement for the party subject to enforcement, it shall submit its articles of association and the resolution adopted by the board of directors or board of shareholders or at the general meeting of shareholders, which shall be in line with Article 16 of the Company Law.
Article 6 Where the party subject to enforcement or another party provides the guarantee of enforcement, the enforcement applicant shall issue written consent to the people's court if it agrees with the provision of a guarantee; alternatively, the enforcement officers can include the applicant's consent in the written record and have the applicant sign or stamp the record.
Article 7 Where the party subject to enforcement or another party provides the guarantee with its property, it may handle the registration and other formalities to publicize real rights for security, in accordance with the Real Rights Law and the Security Law; if such formalities have been completed, the enforcement applicant may claim its priority for repayment according to the law.
Where the enforcement applicant claims before the people's court to have the pledged property sealed up, detained or frozen, the people's court shall agree to its claim, unless otherwise specified in the letter of guarantee.
Article 8 Where the people's court decides to defer enforcement, it is possible to have all enforcement measures suspended and postponed, unless otherwise specified in the letter of guarantee.
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