The Scope of the Secured Loan
The scope of the guarantee is divided into statutory scope and agreed scope. The statutory scope provided for in the Guarantee Act is:
(1) The main claim, that is, the independent existence of the creditor's rights as determined by various credit main contracts such as the loan contract, the bank acceptance agreement, the issuance of the letter of guarantee agreement and so on.
(2) Interest derived from the main claim.
(3) A default payment is the amount payable to a bank if the debtor fails to perform or does not perform its debts in full or not in full as stipulated by law or contract.
(4) Damages refer to the compensation payment to the bank if the debtor loses to the bank due to non-performance or incomplete performance of the debt.
(5) The cost of realizing the claim refers to the reasonable expense spent by the bank for the realization of the creditor's claim if the debtor fails to perform or performs the debt in full or not at the end of the period of performance of the debt. Generally includes litigation fees, appraisal and evaluation fees, notarization fees, auction fees, sale fees, execution fees and other fees.
(6) The cost of keeping the material refers to the expense incurred by the custody of the material during the pledge period.
If the scope of the liability for security is to be agreed separately, it may be agreed upon in the guarantee contract.
Ready-to-wear is also an important form for small and medium-sized businesses to obtain bank loans, and a significant supplement for businesses provided they do not have the benefit of credit loans. A commitment means that the debtor or a third party transfers his personal property (or property rights) to the creditor's possession and takes the personal property (or property rights) as collateral for the claim. In the event of a debtor's failure to carry out the debt, the creditor has the right to pay the personal property (or property rights) at a discount or at the price of the auction or sale of the mobile property (or property rights). The transfer of mobile or ownership rights becomes "quality." When it is possible to offer quality to banks, SMEs can easily obtain loans from banks.
The guarantee law stipulates that the following mobile goods or rights may become the quality of the loan-commitment: (1) a trade note, a cheque, a note to order, a bond, a deposit slip, a warehouse ticket, a bill of lading; (2) a stock or stock that can be transferred in accordance with the law; (3) the right to exclusive use of trademarks, patent rights and copyright that can be transferred in accordance with the law; and (4) other rights that may be promised in accordance with the law.
