Research To Legal Problems On The Contract Of Guaranty Insurance

Guaranty insurance is a combine product of two legal systems: guaranty and insurance. As the guaranty insurance in our country has just been set up for only a few years, there are some backwards in that legal system and many disputes occurred. Apart from it, there are not a unite opinion on related theory.Contact of guaranty insurance is a sort of property insurance contract which insuring party has liability for loss of insurant due to the breach act of debtor or the dishonest act of third party. Contact of guaranty insurance is an independent one. Although the insurance interest in it is related to third party, Its aim is to protect t the creditor or for the benefit of employer. There are much difference among the guaranty insurance, credit insurance and guaranty although they have some similar characters.The formation of contract of guaranty insurance requires identity between intentions declared by two parties. The contract of guaranty insurance takes effect when it satisfies three conditions: parities have capacity, content of contract is legal, and declaration of intention is true.There are two alterations, which is permitted in that contract: double insurance and excess insurance. The contract of guaranty insurance may be terminated by the reason of contract or law. By the way, there are some restrictions on the cancellation of the contract for its own special rules.There are three main kinds of contact of guaranty insurance: contractual guaranty insurance, product guaranty insurance and faith guaranty insurance. Each kind has different specials.The disputes arose from contract of guaranty insurance should be apply for law of insurance. There are some special characters on the substantive issue as follows: the inquiry of insurance accidence; the calculation of related fees; the details of the liability of notice; the realization of the right of subrogation; the independent duty of guaranty insurance; the extension of the duration of the contract; the right to defense. On theprocedural issues, the cause of action, the litigation clients and the jurisdiction of the court should be concerned.The essay consists of six parts, about 35,OOOChinese characters: introduction to contract of guaranty insurance, distinction between contract of guaranty insurance and related concept, formation and taking effect of contract of guaranty insurance, alterations and termination of contract of guaranty insurance, kinds of contract of guaranty insurance, research to the practice of contract of guaranty insurance.