The Research On Our Country's Guarantee System

Guarantee of pledge has become one of the most charming and potential valued guarantee patterns because of its low established cost, simple established procedure and another character that it doesn't restrict the function of object as it's not providing the security. The origin of guarantee system is very early, it can be traced back to the Rome Law and the Germanic Era. There are also some concerned stipulations about the civil law in the modern countries. However the development of the modern guarantee system in our country is very slow. The first time when it stipulated that guarantee is in 1981, when Economic Contract Law was issued. But it is Principle of Civil Law that definitely stipulated pledge as one of guaranty patterns. The ultimate forming symbol of this system is the issuance and implement of Guarantee law in 1995, and Interpretation of Guarantee Law issued by the Supreme People's Court in December of 2000 improves it further.The basic theories of guarantee include the definition, nature, established scope of guarantee period and guarantee liability, as well as the qualification and right of guarantor. Among which the notion, nature, and established scope are the starting point; the qualification and right of guarantor are the core; guaranty period is the bottleneck and the guarantee liability is the ultimate belonging.Although our country's guarantee system has ever underwent lots of development and changes, and formed its framework preliminarily, however there are many problems to be studied whether in theory or in practice. Some clauses must be revised properly; some should be added with the development of the basic theories on guarantee system and the change of social and economic conditions. At the same time we should use the valuable experience of other countries for reference, put the guarantee system under the obligatory right of future civil law code and form the more perfect new guarantee system finally.