What Is a Check Guarantee?

Cheque guarantee refers to the act of a non-cheque debtor to guarantee the debt incurred by a particular cheque debtor, endorsement, payment, etc. Cheque guarantee is a subsidiary bill behavior. Although cheque guarantee behavior is independent, it must be based on the issue of a cheque. The guarantor of the check is a third party other than the debtor of the check, and the guarantor assumes its responsibility in accordance with the meaning of the check. Cheque guarantee behavior is a mandatory behavior, and the guarantor must sign with the cheque party in accordance with legal methods.

Cheque guarantee

Right!

Cheque guarantee refers to the act of a non-cheque debtor to guarantee the debt incurred by a particular cheque debtor, endorsement, payment, etc. Cheque guarantee is a subsidiary bill behavior. Although cheque guarantee behavior is independent, it must be based on the issue of a cheque. The guarantor of the check is a third party other than the debtor of the check, and the guarantor assumes its responsibility in accordance with the meaning of the check. Cheque guarantee behavior is a mandatory behavior, and the guarantor must sign with the cheque party in accordance with legal methods.

Chinese name

Cheque guarantee

Attributes

Non-check

Object

Debt Issued

Corresponding

Endorsement, payment

The types of cheque guarantees are divided from the guaranteed cheque amount and can be divided into: ^[1]

I. Check guarantees are the same as check payment guarantees

(1) Both cheque guarantee and cheque payment guarantee are a kind of guarantee system for cheques, which are different from the cheque guarantee system. ^[2]

(2) The guarantor of both parties bears the liability of the bill only to the bearer who promptly pays the payment due.

(3) Both check holders should prompt payment within the payment reminder period. When payment is not received, the holder should make a rejection certificate to exercise recourse against the invoicer, endorser or other debtor of the bill.

(4) The invoice's endorser or endorser or other debtor of the check will not be exempted from the obligation of the bill by guarantee or payment guarantee.

(5) If the two kinds of guaranteed cheques are not paid, their recourse amounts and re-recovery amounts are exactly the same.

(6) When the holder cannot present a check, make a rejection certificate or a statement with the same effect within the legal period due to force majeure obstacles, both can extend the presentation period, and the holder can endorse the holder 15 days after the notice of force majeure is issued, if the event of force majeure continues, although the notice is given before the expiration of the reminder period, there is no need to prompt or make a statement of rejection of the certificate or a statement with the same effect, and the recourse can be directly exercised Right; wait. (See above for the provisions of Articles 53 to 58 of the Japan Bills Act.)

Differences between cheque guarantees and cheque payment guarantees

(1) The subjects of the two guarantees are different. The subject of a cheque guarantee may be the person signing the cheque or another third party, but the payer may not be the guarantor; while the subject of a cheque payment guarantee, only the payer recorded in the cheque can be the guarantor.

(2) The two guaranteed styles are different. First of all, cheque guarantees are divided into formal guarantees and abbreviated guarantees. The guarantees in the preceding paragraph are expressed as "same as guarantees" or other synonymous terms, and are signed by the guarantor of the bill. The guarantees in the latter paragraph only need to be signed by the guarantor. As for cheque payment guarantees, there is no formal guarantee or an abbreviated guarantee. They must all be expressed in the form of "guaranteed payment" or other text indicating payment on the front of the cheque, and the date and the signature of the payer should be recorded. Secondly, the two "guaranteed texts" have different record requirements. Check guarantee requirements are expressed as "same as guarantee" or other synonymous terms; check payment guarantees are required to be expressed as "guaranteed payment" or other terms expressing payment. Third, the two kinds of guarantee texts are recorded in different places. The check guarantee texts can be written on the cheque or on the sticky note. It can be written on the front of the check or on the back of the check (in general, if it is guaranteed by the endorser, it should be written on the back, if it is guaranteed by the drawer, it should be written on the front of the check); The text of the payment guarantee can only be written on the front of the check.

(3) The requirements of the two guarantees are different. Check guarantee can be guaranteed with the entire check amount or part of the check amount, that is, the guarantee can be conditional, it can be a simple guarantee, or it can not be a simple guarantee; and the check payment guarantee can only be a simple guarantee and a complete guarantee. , No guarantee can be provided for a part of the check amount, that is, the payer can only guarantee in accordance with the original text of the check. If the matters recorded on the check are changed during the guarantee, the guarantee recorded in the change is deemed to be unrecorded, that is, the payment guarantee is invalid. .

(4) The statute of limitations for the recourse against the two guarantors is different. In the case of cheque guarantees, the holder's right of recourse against the guarantor has expired due to time limitation after 6 months have elapsed from the end of the presentation period. The right to ask for a cheque is extinguished due to aging when one year has passed since the end of the presentation period.