Research On Legal Issues Of Performance Guarantee Insurance In The Online Lending

In recent years,faced with the requirement of "breaking the rigid exchange" and the realistic need of add-credit,the online credit platform has introduced the " performance guarantee insurance " into online credit transactions.The combination of "online loan +performance guarantee insurance" seems perfect,but in fact,there are still disputes and doubts on both the basic level of legal attributes and its own application level.Firstly,as a product of the interweaving of guarantee and insurance,"performance guarantee insurance" can easily make people adopt its actual nature.Especially in the case of online loan transactions,the online loan platform introduces the "performance guarantee insurance" system for the purpose of increasing credit,which also complicates the problem.In this regard,in addition to the existing theoretical disputes,the Supreme Court and the local courts also have different understandings and judicial guidelines.This paper argues that it is not enough to enumerate the differences between "guarantee" and "insurance" in specific legal characteristics.We should consider the main function of "performance guarantee insurance" itself,and there is no special agreement.The standard arrangement of "performance guarantee insurance" in online loan transactions should be considered as insurance.If the insurance company is called "performance guarantee insurance" but has a clear characteristic or actual meaning of the guarantee,that is,the insurance company provides the guarantee directly,it should be confirmed according to the facts.As for the administrative liability of the insurance company,it should be dealt with separately.Secondly,"performance guarantee insurance" often coexists with other arrangements in online loan transactions,which forms the situation of insurance and guarantee interweaving,thus bringing about doubts about liability and defense.Generally speaking,in order to clarify the applicable rules,it is necessary to analyze the relationship between the liability under performance guarantee insurance and the liability arising from other arrangements.When the borrower purchases the "performance guarantee insurance" in the online loan transaction and the guarantee of the coexistence of the "performance guarantee insurance" compensation liability and the guarantee liability,the lender should have the right to choose to realize the security right or demand the direct compensation of the "performance guarantee insurance",and the insurance company should not take this as a countermeasure to undertake the compensation.While the insurance company provides "performance guarantee insurance" guarantee,the online lending platform also promises to guarantee this,that is,the online lending platform provides guarantee for the disguised online lending transactions.In this regard,we should first distinguish and evaluate the legal effect of the act.Considering that the liability under the "performance guarantee insurance" is independent of the liability arising from the act,the insurance company cannot refuse to pay compensation on this basis.As for the borrower's use of false credit information,and when the online lending platform has defects in reviewing it,the insurance company has the right to claim the termination of the "performance guarantee insurance" contract,while not liable for compensation.Finally,the insurance company's liability under the "performance guarantee insurance" further derives the risk of huge compensation.This is due to the particularity of "performance guarantee insurance" insurance risk and the imperfection of credit infrastructure.Considering the compensatory pressure faced by insurance companies,it may be useful to design the "performance guarantee insurance" rates and exemptions.Of course,the improvement of credit infrastructure will be of great benefit for the "performance guarantee insurance" to continue to play a better role in online credit transactions.