The Legal Nature Of Commodity Houses Underwriting

The underwriting of commodity houses is a new type of commodity houses sales which a powerful agency company will choose in the business competition.As far as now,there is no clear legal definition coming from current laws and regulations.The only relevant regulation is <Interpretation of the Supreme People's Court on the Relevant Issues concerning the Application of Law for Trying Cases on Dispute over Contract for the Sale of Commodity Houses>.Legal theories on the nature of underwriting of commodity houses are also different.The debate focus on whether the legal action is buying or entrust.I would take use of my practical experience,from the point of view of the industry,based on ordinary contracts and cases,to explain and prove the underwriting of commodity houses is one of the means of principle-agent sales.An underwriter contract is the alternative of agency by agreement.The processing of legal disputes should be according to this train of thought.The first part introduces the operation of underwriting of commodity houses and the characteristics of underwriting contract.The second part differentiates and analyses the three current theories.The third part explains the main content of the underwriting contract by analogy with terms in agency by agreements,and determines the basic nature of the principal-agent contract.The fourth part illustrates that the underwriting liability in the underwriting contract is different according to the different projects.Its essence is the specific sharing plan for the underwriting risk.