Interpretation of the Supreme People's Court on Certain Issues Concerning the Application of the "Guaranty Law of the People's Republic of China"

最高人民法院关于适用《中华人民共和国担保法》若干问题的解释

Promulgating Institution:        Supreme People's Court

Document Number:        Fa Shi [2000] No. 44

Promulgating Date:         12/08/2000

Effective Date:        12/13/2000

颁布机关:       最高人民法院

文    号:     法释[2000]44号

颁布时间:       12/08/2000

实施时间:       12/13/2000

Text

正文

(Decree No. 44, adopted at the 1133rd meeting of the Judicial Committee of the Supreme People's Court on 29 September 2000, promulgated on 8 December 2000, and effective from 13 December 2000)

(法释〔2000〕44号 2000年9月29日最高人民法院审判委员会第1133次会议通过 2000年12月8日公布 自2000年12月13日起施行)

In order to ensure the right application of the Security Law of the People's Republic of China (hereinafter referred to as "the Security Law"), based on Judicial experiences, following interpretations made on such application of law in the court's handling of guaranty disputes.

   为了正确适用《中华人民共和国担保法》(以下简称担保法)，结合审判实践经验，对人民法院审理担保纠纷案件适用法律问题作出如下解释。

Part I: Interpretation of General Principles

   一、关于总则部分的解释

  Article 1   Securities created by parties as stipulated in the Security Law for creditor's rights arising from civil relations shall only be considered effective with no occurrence of compulsory provisions violation in laws and regulations.

    第一条 当事人对由民事关系产生的债权，在不违反法律、法规强制性规定的情况下，以担保法规定的方式设定担保的，可以认定为有效。

  Article 2   The counter guarantor may be the debtor or identified as another party.

Counter-securities can either be mortgages or pledges offered by the debtor, or guarantees, mortgages or pledges offered by a third party.

    第二条 反担保人可以是债务人，也可以是债务人之外的其他人。

   反担保方式可以是债务人提供的抵押或者质押，也可以是其他人提供的保证、抵押或者质押。

  Article 3   A security contract shall become invalid if a State agency, social organization or institution violates the laws by assuming the guarantor's duties and responsibilities. The creditor's consequent loss shall be compensated pursuant to Paragraph (2), Article 5 of the Security Law.

    第三条 国家机关和以公益为目的的事业单位、社会团体违反法律规定提供担保的，担保合同无效。因此给债权人造成损失的，应当根据担保法第五条第二款的规定处理。

  Article 4   Security contracts shall become invalid if directors and managers violate Article 60 of Company Law of the People's Republic of China by providing securities for debts of company's shareholders or other persons. The debtor and guarantor together shall undertake joint compensation liability for creditor's loss unless the creditor knows or should have known about the fact.

    第四条 董事、经理违反《中华人民共和国公司法》第六十条的规定，以公司资产为本公司的股东或者其他个人债务提供担保的，担保合同无效。除债权人知道或者应当知道的外，债务人、担保人应当对债权人的损失承担连带赔偿责任。

  Article 5   If a security is either created on a property laws and regulations prohibit from circulating or on non-transferable asset, the security contract shall become invalid.

If a security is created on a property restricted by laws and regulations from circulating, the people's court shall dispose of the property according to relevant laws and regulations by an assessment of the creditor's rights.

    第五条 以法律、法规禁止流通的财产或者不可转让的财产设定担保的，担保合同无效。

   以法律、法规限制流通的财产设定担保的，在实现债权时，人民法院应当按照有关法律、法规的规定对该财产进行处理。

  Article 6   Foreign security contract shall become invalid if:

(1) The security is not approved or registered by relevant competent administration authorities;

(2) The security is provided to domestic creditor for overseas agencies without relevant competent administration authorities' approval or registration;

(3) The security is created to secure registered capital or the foreign party's external debt of its investment in a foreign-invested enterprise;

(4) A foreign exchange security is either provided by a financial agency with no right to engage in foreign exchange security business, or a non-financial enterprise legal person without foreign exchange income;

(5) The guarantor will not assume any liability on the guarantee's behalf if the principal contract is altered or the creditor transfers the right under the foreign security contract without the guarantor's consent or relevant competent administration authorities' approval, except as otherwise provided by laws and regulations.

    第六条 有下列情形之一的，对外担保合同无效：

   (一)未经国家有关主管部门批准或者登记对外担保的；

   (二)未经国家有关主管部门批准或者登记，为境外机构向境内债权人提供担保的；

   (三)为外商投资企业注册资本、外商投资企业中的外方投资部分的对外债务提供担保的；

   (四)无权经营外汇担保业务的金融机构、无外汇收入的非金融性质的企业法人提供外汇担保的；

   (五)主合同变更或者债权人将对外担保合同项下的权利转让，未经担保人同意和国家有关主管部门批准的，担保人不再承担担保责任。但法律、法规另有规定的除外。

  Article 7   The guarantor and the debtor shall assume joint compensation liability for the creditor's economic loss on the condition that the principal contract is valid while the security contract is invalid, and the creditor not at fault. If the creditor and guarantor are both at fault, the portion of civil liability undertaken by the guarantor shall not exceed half of the debtor's unpayable portion.

    第七条 主合同有效而担保合同无效，债权人无过错的，担保人与债务人对主合同债权人的经济损失，承担连带赔偿责任；债权人、担保人有过错的，担保人承担民事责任的部分，不应超过债务人不能清偿部分的二分之一。

  Article 8   The guarantor shall not assume any civil obligation if the security contract consequently becomes void due to the invalidity of the principal contract with a provider not at fault. However, if the guarantor is at fault, the portion undertaken by him shall not exceed one third of the obligation that can not be fulfilled by the debtor.

    第八条 主合同无效而导致担保合同无效，担保人无过错的，担保人不承担民事责任；担保人有过错的，担保人承担民事责任的部分，不应超过债务人不能清偿部分的三分之一。

  Article 9   The guarantor may either file a lawsuit against the debtor after assuming compensation liability to the creditor in case of invalid security contract, or require the counter guarantor at fault to bear full liability within the compensation scope.

The guarantor may file a lawsuit against the debtor or counter guarantor based on the fact of assuming compensation liabilities.

    第九条 担保人因无效担保合同向债权人承担赔偿责任后，可以向债务人追偿，或者在承担赔偿责任的范围内，要求有过错的反担保人承担赔偿责任。

   担保人可以根据承担赔偿责任的事实对债务人或者反担保人另行提起诉讼。

  Article 10   After termination of the principal contract, the guarantor shall continue to assume guarantee liability to the debtor for the latter's civil obligation, except as otherwise stipulated by the security contract.

    第十条 主合同解除后，担保人对债务人应当承担的民事责任仍应承担担保责任。但是，担保合同另有约定的除外。

  Article 11   The concluding act of security contract by the legal representative or responsible officer in entities with legal person or other organizations' capacity beyond their scope of authorization shall become valid, except when the counter party knows or should know about such fact.

    第十一条 法人或者其他组织的法定代表人、负责人超越权限订立的担保合同，除相对人知道或者应当知道其超越权限的以外，该代表行为有效。

  Article 12   The security term agreed upon by the parties or required by registration authorities has no legal binding force on the continuity of the security right.

The people's court shall support the creditor's exercise of his security right within two years after the limitation expiry of the creditor's right guaranteed by the security right.

    第十二条 当事人约定的或者登记部门要求登记的担保期间，对担保物权的存续不具有法律约束力。

   担保物权所担保的债权的诉讼时效结束后，担保权人在诉讼时效结束后的二年内行使担保物权的，人民法院应当予以支持。

Part II: Interpretation of Guarantee

   二、关于保证部分的解释

  Article 13   Where a guarantee contract provides that the guarantor shall fulfill a non-monetary obligation, if the guarantor defaults, he shall assume the compensation liability to the creditor for the consequent loss.

    第十三条 保证合同中约定保证人代为履行非金钱债务的，如果保证人不能实际代为履行，对债权人因此造成的损失，保证人应当承担赔偿责任。

  Article 14   Pleadings from legal person, other organization or individual without full solvency entering into a guarantee contract as a guarantor, and requiring exemption from guarantee liability for lack of solvency afterwards, shall not be supported by the people's court.

    第十四条 不具有完全代偿能力的法人、其他组织或者自然人，以保证人身份订立保证合同后，又以自己没有代偿能力要求免除保证责任的，人民法院不予支持。

  Article 15   Other organizations provided in Article 7 of the Security Law mainly include:

(1) Sole proprietorship and partnership enterprises with legal registration and business license;

(2) Jointly-operated enterprises with legal registration and business license;

(3) Sino-foreign cooperative enterprises with legal registration and business license;

(4) Social organizations approved and registered by civil authorities;

(5) Township, neighborhood and village enterprises with legal registration and business license.

    第十五条 担保法第七条规定的其他组织主要包括：

   (一)依法登记领取营业执照的独资企业、合伙企业；

   (二)依法登记领取营业执照的联营企业；

   (三)依法登记领取营业执照的中外合作经营企业；

   (四)经民政部门核准登记的社会团体；

   (五)经核准登记领取营业执照的乡镇、街道、村办企业。

  Article 16   Where the public institution engaging in operations or social organization acts as the guarantor, the guarantee contract shall be regarded as valid if no other existing invalidity reason impacts on the contract.

    第十六条 从事经营活动的事业单位、社会团体为保证人的，如无其他导致保证合同无效的情况，其所签订的保证合同应当认定为有效。

  Article 17   A guarantee contract shall become invalid if the guarantee is provided by a legal person enterprise's branch without the latter's authorization. The creditor's consequent loss shall be compensated pursuant to Paragraph (2), Article 5 of the Security Law.

When providing guarantee with the legal person enterprise's written authorization, the legal person enterprise's branch shall, if the scope of authorization is unclear, assume full responsibility for the debt agreed upon in the guarantee contract.

If the guarantee liability exceeds the amount of property operated by the branch, the legal person enterprise shall assume the civil liability.

The branch shall bear compensation liability with its own property when the guarantee contract becomes invalid. If the legal person enterprise is at fault, Article 29 of the Security Law shall apply.

    第十七条 企业法人的分支机构未经法人书面授权提供保证的，保证合同无效。因此给债权人造成损失的，应当根据担保法第五条第二款的规定处理。

   企业法人的分支机构经法人书面授权提供保证的，如果法人的书面授权范围不明，法人的分支机构应当对保证合同约定的全部债务承担保证责任。

   企业法人的分支机构经营管理的财产不足以承担保证责任的，由企业法人承担民事责任。

   企业法人的分支机构提供的保证无效后应当承担赔偿责任的，由分支机构经营管理的财产承担。企业法人有过错的，按照担保法第二十九条的规定处理。

  Article 18   Where the Guarantee is offered by legal person enterprise's functional divisions, the guarantee contract shall become invalid. The creditor shall bear consequent loss if he knows or should have known that the guarantor is a legal person enterprise's functional division.

If the creditor is not aware that the guarantor is a legal person enterprise's functional division, the consequent loss may be dealt with according to Paragraph (2) of Article 5 and Article 29 of the Security Law.

    第十八条 企业法人的职能部门提供保证的，保证合同无效。债权人知道或者应当知道保证人为企业法人的职能部门的，因此造成的损失由债权人自行承担。

   债权人不知保证人为企业法人的职能部门，因此造成的损失，可以参照担保法第五条第二款的规定和第二十九条的规定处理。

  Article 19   Where two or more guarantors simultaneously or respectively provide guarantee for the same debt, but guarantors and creditor have no agreement on guarantee shares, such guarantee shall be deemed as joint guarantee.

Where the joint guarantors defend against creditor with their internal agreement of guarantee shares, such defense shall not be supported by the people's court.

    第十九条 两个以上保证人对同一债务同时或者分别提供保证时，各保证人与债权人没有约定保证份额的，应当认定为连带共同保证。

   连带共同保证的保证人以其相互之间约定各自承担的份额对抗债权人的，人民法院不予支持。

  Article 20   If the debtor of a joint guarantee does not fulfill his liability upon the termination of performance term as written in the principal contract, the creditor may require the debtor to fulfill his liability or require any of the guarantors to bear the entire security liability.

After undertaking guarantee responsibility, the joint guarantors may divide the unrecoverable portion from the debtor according to the share internally agreed upon. If no such share is agreed upon, said portion shall be equally divided.

    第二十条 连带共同保证的债务人在主合同规定的债务履行期届满没有履行债务的，债权人可以要求债务人履行债务，也可以要求任何一个保证人承担全部保证责任。

   连带共同保证的保证人承担保证责任后，向债务人不能追偿的部分，由各连带保证人按其内部约定的比例分担。没有约定的，平均分担。

  Article 21   The joint guarantors by shares shall be entitled to claim repayment from the debtor within the scope of security liability after fulfilling their own shares of guarantee responsibilities as agreed upon in the guarantee contract.

    第二十一条 按份共同保证的保证人按照保证合同约定的保证份额承担保证责任后，在其履行保证责任的范围内对债务人行使追偿权。

  Article 22   The guarantee contract shall be concluded if the third party unilaterally issues a written warranty to the creditor and the latter accepts it without raising any objection.

Where the guarantor signs or stamps on the principal contract without guarantee terms in the capacity of guarantor, the guarantee contract shall be concluded.

    第二十二条 第三人单方以书面形式向债权人出具担保书，债权人接受且未提出异议的，保证合同成立。

   主合同中虽然没有保证条款，但是，保证人在主合同上以保证人的身份签字或者盖章的，保证合同成立。

  Article 23   After confirming the uncertain obligation of a guarantee in a contract up to a maximum amount, the guarantor shall assume security liability within such maximum amount for the continuous obligations arising in a specific period.

    第二十三条 最高额保证合同的不特定债权确定后，保证人应当对在最高债权额限度内就一定期间连续发生的债权余额承担保证责任。

  Article 24   At the expiration of performance term of principal debt, if the general guarantor provides authentic information to the creditor concerning the debtor's property eligible for execution, but the creditor waives or neglects such right and thus causes failure of execution on this property, the guarantor may require the court to exempt him from security liability within the scope of actual value of the above property.

    第二十四条 一般保证的保证人在主债权履行期间届满后，向债权人提供了债务人可供执行财产的真实情况的，债权人放弃或者怠于行使权利致使该财产不能被执行，保证人可以请求人民法院在其提供可供执行财产的实际价值范围内免除保证责任。

  Article 25   The creditor's major difficult conditions to make the debtor perform obligation stipulated in Item (1), Paragraph 3 of Article 17 include: unknown whereabouts or emigration of the debtor, and no property left to be executed.

    第二十五条 担保法第十七条第三款第(一)项规定的债权人要求债务人履行债务发生的重大困难情形，包括债务人下落不明、移居境外，且无财产可供执行。

  Article 26   The third party guarantying supervision of special purpose for a special fund the creditor will be free from liability after performance of the above obligation. If the third party fails to fulfill the supervision obligation and thus results in capital loss, he shall bear supplementary compensation liability for the lost capital.

    第二十六条 第三人向债权人保证监督支付专款专用的，在履行了监督支付专款专用的义务后，不再承担责任。未尽监督义务造成资金流失的，应当对流失的资金承担补充赔偿责任。

  Article 27   Where the guarantor provides guarantee for the debtor's registered capital while the debtor's actual investment is inconsistent with registered capital, or the debtor withdraws and transfers said registered capital, the guarantor shall assume joint security liability in the scope of insufficient capital or transferred capital.

    第二十七条 保证人对债务人的注册资金提供保证的，债务人的实际投资与注册资金不符，或者抽逃转移注册资金的，保证人在注册资金不足或者抽逃转移注册资金的范围内承担连带保证责任。

  Article 28   When the creditor lawfully transfers his principal obligation to a third party during the guarantee period, the guaranteed obligation shall simultaneously be transferred and the guarantor shall fulfill his security liability towards the transferee in the original scope of guarantee. The guarantor shall be exempted from security liability if it is agreed by guarantor and creditor that the guarantee is provided only to specific creditor or the credit is not transferable.

    第二十八条 保证期间，债权人依法将主债权转让给第三人的，保证债权同时转让，保证人在原保证担保的范围内对受让人承担保证责任。但是保证人与债权人事先约定仅对特定的债权人承担保证责任或者禁止债权转让的，保证人不再承担保证责任。

  Article 29   During the guarantee term, if the creditor allows the debtor to transfer part of his debt without the guarantor's written consent, the guarantor shall not bear any security liability for that part of the debt, while he is still liable for the remaining part of it.

    第二十九条 保证期间，债权人许可债务人转让部分债务未经保证人书面同意的，保证人对未经其同意转让部分的债务，不再承担保证责任。但是，保证人仍应当对未转让部分的债务承担保证责任。

  Article 30   During the guarantee term, if the creditor and the debtor alter the contents of quantity, price, currency, interest rate and the like of the principal contract without the guarantor's consent, and thus reduce the debtor's obligation, the guarantor shall still bear the security liability for the altered contract; if said alteration increases the debtor's obligation, the guarantor will not be liable for such increased portion.

Without the guarantor's written consent, if the creditor and debtor alter the duration of performance of the principal contract, the duration of guarantee shall remain unchanged or shall be the statutory duration.

The guarantor shall still bear the security liability if the creditor and debtor agree to alter the contents of the principal contract but have not yet performed accordingly.

    第三十条 保证期间，债权人与债务人对主合同数量、价款、币种、利率等内容作了变动，未经保证人同意的，如果减轻债务人的债务的，保证人仍应当对变更后的合同承担保证责任；如果加重债务人的债务的，保证人对加重的部分不承担保证责任。

   债权人与债务人对主合同履行期限作了变动，未经保证人书面同意的，保证期间为原合同约定的或者法律规定的期间。

   债权人与债务人协议变动主合同内容，但并未实际履行的，保证人仍应当承担保证责任。

  Article 31   The Duration of the guarantee shall not be suspended, discontinued or extended under any circumstances.

    第三十一条 保证期间不因任何事由发生中断、中止、延长的法律后果。

  Article 32   A guarantee term stipulated in a guarantee contract earlier than or the same as the performance term of the principal debt shall be deemed as not stipulated. The guarantee term shall be six months as of the expiration date of the performance term of the principal obligation.

It will be considered as an unclear provision if the guarantee contract stipulates that the guarantor shall bear security liability until the principal amount and interest of the principal debt is paid. The guarantee term shall be two years as of the expiration of the performance term of the principal obligation.

    第三十二条 保证合同约定的保证期间早于或者等于主债务履行期限的，视为没有约定，保证期间为主债务履行期届满之日起六个月。

   保证合同约定保证人承担保证责任直至主债务本息还清时为止等类似内容的，视为约定不明，保证期间为主债务履行期届满之日起二年。

  Article 33   Where there is no stipulation or no clear stipulation in the principal contract concerning the performance term of the principal debt, the guarantee term shall be calculated as of the expiration date of the debtor's grace period to fulfill his obligation.

    第三十三条 主合同对主债务履行期限没有约定或者约定不明的，保证期间自债权人要求债务人履行义务的宽限期届满之日起计算。

  Article 34   Where the creditor of a general guarantee files a suit or applies for arbitration against the debtor before the expiration of the guarantee term, the limitation of action for guarantee contract shall be calculated as of the effective date of verdict or arbitration award.

When the creditor of joint liability guarantee requires the guarantor to assume security liability before the expiration date of the guarantee term, the limitation of action for the guarantee contract shall be calculated from the day the creditor raised the requirement.

    第三十四条 一般保证的债权人在保证期间届满前对债务人提起诉讼或者申请仲裁的，从判决或者仲裁裁决生效之日起，开始计算保证合同的诉讼时效。

   连带责任保证的债权人在保证期间届满前要求保证人承担保证责任的，从债权人要求保证人承担保证责任之日起，开始计算保证合同的诉讼时效。

  Article 35    Where the guarantor bears liability or provides guarantee for a debt exceeding the limitation of action, his defense on the basis that such liability exceeds the limitation of action shall not be supported by the people's court.

    第三十五条 保证人对已经超过诉讼时效期间的债务承担保证责任或者提供保证的，又以超过诉讼时效为由抗辩的，人民法院不予支持。

  Article 36   In a general guarantee, the limitation of action for a principal debt will be discontinued when said limitation of action of the latter stops. In joint liability guarantee, the limitation of action for a principal debt will not be discontinued when said limitation of action of the latter stops.

In both general and joint liability guarantee, the limitation of action for a principal debt will be suspended when said limitation of action of the principal debt is suspended.

    第三十六条 一般保证中，主债务诉讼时效中断，保证债务诉讼时效中断；连带责任保证中，主债务诉讼时效中断，保证债务诉讼时效不中断。

   一般保证和连带责任保证中，主债务诉讼时效中止的，保证债务的诉讼时效同时中止。

  Article 37   Where no agreement whether clear or not is formulated on the guarantee term in the contract of guarantee up to a maximum amount, if the guarantor's term debt payment is specified in the contract, a six month period shall be the guarantee term as of the expiration of the guarantor's term of debt payment. If the term for payment of debt is not stipulated in the contract, a six month period shall be the guarantee term as of the termination of the guarantee up to a maximum amount, or a six month period as of the date of the creditor's receipt of the guarantor's termination of guarantee contract in writing.

    第三十七条 最高额保证合同对保证期间没有约定或者约定不明的，如最高额保证合同约定有保证人清偿债务期限的，保证期间为清偿期限届满之日起六个月。没有约定债务清偿期限的，保证期间自最高额保证终止之日或自债权人收到保证人终止保证合同的书面通知到达之日起六个月。

  Article 38   Where an obligation is secured by both a guarantee and a property security of a third party, the creditor may require the guarantor or such third party to perform his security obligation. Where no agreement whether clear or not is formulated by the parties concerning the scope of guarantee or property security, the guarantor fulfilling the liability may have recourse against the debtor or require other guarantors to answer for their shares.

Where an obligation is secured by both a guarantee and property security, if the security contract of property is proved invalid or rescinded, or the property is lost due to force majeure with no available substitute, the guarantor shall still assume security liability as stipulated by contract or by law.

Where the creditor fails to exercise the property security after the expiration of the performance term for the principal contract, and thus results in depreciation, damage or loss of the security property, part or all of the property security shall be deemed as waived by the creditor. The guarantor will be lessened or exempted from obligation regarding said rights waived by such creditor.

    第三十八条 同一债权既有保证又有第三人提供物的担保的，债权人可以请求保证人或者物的担保人承担担保责任。当事人对保证担保的范围或者物的担保的范围没有约定或者约定不明的，承担了担保责任的担保人，可以向债务人追偿，也可以要求其他担保人清偿其应当分担的份额。

   同一债权既有保证又有物的担保的，物的担保合同被确认无效或者被撤销，或者担保物因不可抗力的原因灭失而没有代位物的，保证人仍应当按合同的约定或者法律的规定承担保证责任。

   债权人在主合同履行期届满后怠于行使担保物权，致使担保物的价值减少或者毁损、灭失的，视为债权人放弃部分或者全部物的担保。保证人在债权人放弃权利的范围内减轻或者免除保证责任。

  Article 39   Where the parties of the principal contract agree to repay an old loan with a new loan, the guarantor will not assume civil liability except when he knows or should know about such fact.

The above provision shall not apply where the same guarantor secures the two loans.

    第三十九条 主合同当事人双方协议以新贷偿还旧贷，除保证人知道或者应当知道的外，保证人不承担民事责任。

   新贷与旧贷系同一保证人的，不适用前款的规定。

  Article 40   Where the debtor of principal contract makes the guarantor provide aguarantee contrary to her or his will by means of fraud, intimidation or the like, and the creditor knows or should know about such fact, Article 30 of the Security Law shall apply.

    第四十条 主合同债务人采取欺诈、胁迫等手段，使保证人在违背真实意思的情况下提供保证的，债权人知道或者应当知道欺诈、胁迫事实的，按照担保法第三十条的规定处理。

  Article 41   Where the debtor and guarantor establish principal and guarantee contracts by jointly cheating the creditor, the creditor may request the people's court to rescind such contracts. The guarantor and debtor shall bear joint liability for the creditor's consequent loss.

    第四十一条 债务人与保证人共同欺骗债权人，订立主合同和保证合同的，债权人可以请求人民法院予以撤销。因此给债权人造成损失的，由保证人与债务人承担连带赔偿责任。

  Article 42   Where the court decides that the guarantor shall assume guarantee or compensation liability, the court shall specify in its verdict that the guarantor is entitled to enjoy the rights provided in Article 31 of the Security Law. If the right of recourse is not clearly mentioned in the verdict, the guarantor will only have to file another lawsuit on the basis of his compensation.

The guarantor's limitation of action for compensation from the debtor shall be calculated as of the day the guarantor assumes liability to the creditor.

    第四十二条 人民法院判决保证人承担保证责任或者赔偿责任的，应当在判决书主文中明确保证人享有担保法第三十一条规定的权利。判决书中未予明确追偿权的，保证人只能按照承担责任的事实，另行提起诉讼。

   保证人对债务人行使追偿权的诉讼时效，自保证人向债权人承担责任之日起开始计算。

  Article 43   Where the guarantor independently assumes liability with his actual payment exceeding the principal obligation, the guarantor may only have recourse against the debtor within the scope of the principal obligation.

    第四十三条 保证人自行履行保证责任时，其实际清偿额大于主债权范围的，保证人只能在主债权范围内对债务人行使追偿权。

  Article 44   During the term of guarantee, the creditor may either declare her or his claim to the people's court or make a claim to the guarantor once the court accepts the bankruptcy application of the debtor.

The guarantor shall continue to assume obligation on the portion unpaid in the bankruptcy procedure after submission of claim declaration by the creditor. The creditor shall require the guarantor to assume security liability within six months as of the termination of the bankruptcy procedure.

    第四十四条 保证期间，人民法院受理债务人破产案件的，债权人既可以向人民法院申报债权，也可以向保证人主张权利。

   债权人申报债权后在破产程序中未受清偿的部分，保证人仍应当承担保证责任。债权人要求保证人承担保证责任的，应当在破产程序终结后六个月内提出。

  Article 45   Where the creditor knows or should know about the debtor's bankruptcy but fails to lodge a claim of obligation or notify the guarantor, and thus causes the guarantor's inability to claim his right of recourse, the guarantor will be exempted from obligation within the amount that may be paid in the bankruptcy procedure.

    第四十五条 债权人知道或者应当知道债务人破产，既未申报债权也未通知保证人，致使保证人不能预先行使追偿权的，保证人在该债权在破产程序中可能受偿的范围内免除保证责任。

  Article 46   Where the creditor did not lodge a claim of obligation after the court dealt with the debtor's bankruptcy case, the joint guarantors shall declare said claim as one subject for recourse in advance.

    第四十六条 人民法院受理债务人破产案件后，债权人未申报债权的，各连带共同保证的保证人应当作为一个主体申报债权，预先行使追偿权。

Part III: Interpretation of Mortgage

   三、关于抵押部分的解释

  Article 47   Where the parties registered the mortgaged properties of houses or other buildings approved but not built yet, or still under construction, such mortgage may be considered effective by the people's court.

    第四十七条 以依法获准尚未建造的或者正在建造中的房屋或者其他建筑物抵押的，当事人办理了抵押物登记，人民法院可以认定抵押有效。

  Article 48   Mortgage on buildings confirmed by legal procedure as violating laws or regulations shall be invalid.

    第四十八条 以法定程序确认为违法、违章的建筑物抵押的，抵押无效。

  Article 49   The mortgage on a property without ownership certificate may be considered valid if the ownership certificate is available or the property is registered before termination of the court debate in the first instance.

The parties failing to register the mortgaged property may not raise a claim against a third party.

    第四十九条 以尚未办理权属证书的财产抵押的，在第一审法庭辩论终结前能够提供权利证书或者补办登记手续的，可以认定抵押有效。

   当事人未办理抵押物登记手续的，不得对抗第三人。

  Article 50   Where a mortgage is made on all the properties stipulated in Paragraph (1), Article 34 of the Security Law, the scope of the mortgaged property shall be determined by the registration. The value of the mortgaged property shall be confirmed upon the realization of mortgage rights.

    第五十条 以担保法第三十四条第一款所列财产一并抵押的，抵押财产的范围应当以登记的财产为准。抵押财产的价值在抵押权实现时予以确定。

  Article 51   Where the obligation exceeds the value of mortgaged property, there will not be payment priority regarding the exceeding portion.

    第五十一条 抵押人所担保的债权超出其抵押物价值的，超出的部分不具有优先受偿的效力。

  Article 52   Where the parties' mortgage outputs and the right of use of the land do not coincide simultaneously correspond, the mortgage on the land right of use is invalid.

    第五十二条 当事人以农作物和与其尚未分离的土地使用权同时抵押的，土地使用权部分的抵押无效。

  Article 53   Where public institutions and social organizations for the purpose of public interests such as schools, kindergartens, hospitals, etc., mortgage properties other than educational, medical and other facilities for public good for their own debts, such mortgage may be considered valid by the court.

    第五十三条 学校、幼儿园、医院等以公益为目的的事业单位、社会团体，以其教育设施、医疗卫生设施和其他社会公益设施以外的财产为自身债务设定抵押的，人民法院可以认定抵押有效。

  Article 54   Any mortgage made by a co-owner by shares on his own share from a common property is valid.

Where the common owner mortgages the jointly owned property without other owners' consent, such mortgage is invalid. If other common owners know or should know about such fact and fail to raise objection, such act shall be deemed as consent, and the mortgage shall then be valid.

    第五十四条 按份共有人以其共有财产中享有的份额设定抵押的，抵押有效。

   共同共有人以其共有财产设定抵押，未经其他共有人的同意，抵押无效。但是，其他共有人知道或者应当知道而未提出异议的视为同意，抵押有效。

  Article 55   The property preservation and execution procedures such as sealing up, detaining, etc. taken to the mortgaged property shall not alter the results coming in full force by the mortgage contract.

    第五十五条 已经设定抵押的财产被采取查封、扣押等财产保全或者执行措施的，不影响抵押权的效力。

  Article 56   Where there is no stipulation or no clear stipulation in mortgage contract concerning the category of mortgaged principal obligation and mortgaged property, and neither can be supplemented or determined by the principal contract and mortgage contract, the mortgage shall be deemed as not created.

Where it is stipulated by law that a mortgage contract will take effect only after registration, while the mortgager refuses to go through such procedure according to the principle of good faith thus causing the loss to the creditor, the mortgager shall assume the compensation liability.

    第五十六条 抵押合同对被担保的主债权种类、抵押财产没有约定或者约定不明，根据主合同和抵押合同不能补正或者无法推定的，抵押不成立。

   法律规定登记生效的抵押合同签订后，抵押人违背诚实信用原则拒绝办理抵押登记致使债权人受到损失的，抵押人应当承担赔偿责任。

  Article 57   Where the parties stipulate in the mortgage contract that the ownership of mortgaged property will be transferred to the creditor if she or he has not received full payment upon the expiration date of obligation performance, such provision shall become invalid and have no effect on other provisions of the mortgage contract.

Where a mortgagee has not received full payment at the expiration of the performance of obligation term, she or he may agree with the mortgager to obtain such mortgaged property by converting its value. While if a later mortgagee or other creditor's interests are thus damaged, the people's court may apply relevant provisions of Articles 74 and 75 of the Contract Law.

    第五十七条 当事人在抵押合同中约定，债务履行期届满抵押权人未受清偿时，抵押物的所有权转移为债权人所有的内容无效。该内容的无效不影响抵押合同其他部分内容的效力。

   债务履行期届满后抵押权人未受清偿时，抵押权人和抵押人可以协议以抵押物折价取得抵押物。但是，损害顺序在后的担保物权人和其他债权人利益的，人民法院可以适用合同法第七十四条、第七十五条的有关规定。

  Article 58   Where the parties register the mortgaged property in different statutory registration authorities on the same day, the order shall be deemed as the same.

If registrations are carried out in an uninterrupted process on grounds alleged by registration authorities, the first registering day of the mortgaged property shall be deemed as the registration date of mortgage and be the basis to determine the order of mortgage right.

    第五十八条 当事人同一天在不同的法定登记部门办理抵押物登记的，视为顺序相同。

   因登记部门的原因致使抵押物进行连续登记的，抵押物第一次登记的日期，视为抵押登记的日期，并依此确定抵押权的顺序。

  Article 59   Where the parties cannot process the registration formalities of the mortgaged property on grounds alleged by authorities, if the mortgager provides the appropriate certificate to the creditor, it can be concluded that said creditor has the priority right of payment on the property. However, without registering the mortgaged property, parties cannot lodge a claim against a third party.

    第五十九条 当事人办理抵押物登记手续时，因登记部门的原因致使其无法办理抵押物登记，抵押人向债权人交付权利凭证的，可以认定债权人对该财产有优先受偿权。但是，未办理抵押物登记的，不得对抗第三人。

  Article 60   Where a mortgage is made on real estate listed in Item (2), Article 42 of the Security Law, with no stipulation by registration authorities in governments of county or above level, if the parties register the mortgage with administration authorities of land or real estate, the people's court may confirm effectiveness of such registration.

    第六十条 以担保法第四十二条第(二)项规定的不动产抵押的，县级以上地方人民政府对登记部门未作规定，当事人在土地管理部门或者房产管理部门办理了抵押物登记手续，人民法院可以确认其登记的效力。

  Article 61   Where the contents of the mortgage registration contravene that of the mortgage contract, the former shall prevail.

    第六十一条 抵押物登记记载的内容与抵押合同约定的内容不一致的，以登记记载的内容为准。

  Article 62   Where the mortgaged property is owned by a third party by means of attachment or mixed-up, the mortgage shall affect the compensation; where the mortgager becomes the owner of the attachment, mixture or processed product, the mortgage shall affect such attachment, mixture or processed product; where a third party jointly owns the attachment, mixture or processed product with the owner of mortgaged property, the mortgage shall affect the share enjoyed by the mortgager.

    第六十二条 抵押物因附合、混合或者加工使抵押物的所有权为第三人所有的，抵押权的效力及于补偿金；抵押物所有人为附合物、混合物或者加工物的所有人的，抵押权的效力及于附合物、混合物或者加工物；第三人与抵押物所有人为附合物、混合物或者加工物的共有人的，抵押权的效力及于抵押人对共有物享有的份额。

  Article 63   Where a property is accessory to the mortgaged property prior to the mortgage creation, the mortgage shall have effect on such accessory. While if the mortgaged property and its accessory are independently owned by two or more persons, the mortgage shall not have effect on the accessory.

    第六十三条 抵押权设定前为抵押物的从物的，抵押权的效力及于抵押物的从物。但是，抵押物与其从物为两个以上的人分别所有时，抵押权的效力不及于抵押物的从物。

  Article 64   Where a mortgaged property is seized by the court due to the debtor's failure to perform her or his obligation at the expiration of the performance term, from the date of seizure, the natural and statutory fruits of the mortgaged property obtained by the mortgagee shall be paid in the following order:

(1) Expenses incurred for such returns;

(2) Interest of the principal obligation;

(3) Principal obligation.

    第六十四条 债务履行期届满，债务人不履行债务致使抵押物被人民法院依法扣押的，自扣押之日起抵押权人收取的由抵押物分离的天然孳息和法定孳息，按照下列顺序清偿：

   (一)收取孳息的费用；

   (二)主债权的利息；

   (三)主债权。

  Article 65   Where the mortgager mortgages a leased property, after realization of mortgage right, the leasing contract shall still be binding on the consignee of such property within the duration of the lease contract.

    第六十五条 抵押人将已出租的财产抵押的，抵押权实现后，租赁合同在有效期内对抵押物的受让人继续有效。

  Article 66   Where the mortgager leases a mortgaged property, after realization of mortgage right, the leasing contract will not be binding on the consignee.

When leasing the mortgaged property, if the mortgager fails to notify the leasee in writing about the fact, the mortgagor shall compensate the leasee's loss arising thereof; if notified by the mortgager in writing, the leasee shall individually bear the loss if any damage arises thereof.

    第六十六条 抵押人将已抵押的财产出租的，抵押权实现后，租赁合同对受让人不具有约束力。

   抵押人将已抵押的财产出租时，如果抵押人未书面告知承租人该财产已抵押的，抵押人对出租抵押物造成承租人的损失承担赔偿责任；如果抵押人已书面告知承租人该财产已抵押的，抵押权实现造成承租人的损失，由承租人自己承担。

  Article 67   During the term of mortgage, if the mortgager transfers the mortgaged property without notifying the mortgagee or consignee, the mortgagee may still exercise his mortgage right on condition that the mortgaged property has been registered; the consignee who has obtained the ownership of the property may pay all the debts in the debtor's place to extinguish mortgage right. After payment, the consignee is entitled to initiate legal proceedings against the mortgager.

If the mortgaged property has not been registered, the mortgagee shall not be entitled to any claim against the consignee. Any consequent loss caused by the mortgagee shall in return be covered by the mortgager.

    第六十七条 抵押权存续期间，抵押人转让抵押物未通知抵押权人或者未告知受让人的，如果抵押物已经登记的，抵押权人仍可以行使抵押权；取得抵押物所有权的受让人，可以代替债务人清偿其全部债务，使抵押权消灭。受让人清偿债务后可以向抵押人追偿。

   如果抵押物未经登记的，抵押权不得对抗受让人，因此给抵押权人造成损失的，由抵押人承担赔偿责任。

  Article 68   Mortgage right shall not be influenced when the mortgaged property is inherited or donated.

    第六十八条 抵押物依法被继承或者赠与的，抵押权不受影响。

  Article 69   If there are several general creditors and at the time of payment the debtor is unable to fulfill other debts by mortgaging all or part of his property for one creditor through collusion, the other creditors whose legal interests have been impaired may request the court to rescind such mortgage.

    第六十九条 债务人有多个普通债权人的，在清偿债务时，债务人与其中一个债权人恶意串通，将其全部或者部分财产抵押给该债权人，因此丧失了履行其他债务的能力，损害了其他债权人的合法权益，受损害的其他债权人可以请求人民法院撤销该抵押行为。

  Article 70   When the act of a mortgager may depreciate a mortgaged property, and the mortgager refuses to restore the original condition or provide security, the mortgagee may require the debtor to perform his liability or apply to exercise mortgage right in advance.

    第七十条 抵押人的行为足以使抵押物价值减少的，抵押权人请求抵押人恢复原状或提供担保遭到拒绝时，抵押权人可以请求债务人履行债务，也可以请求提前行使抵押权。

  Article 71  Prior to full payment of principal obligation, the mortgagee may exercise his right on the whole of the mortgaged property.

When the mortgaged property is divided or partially transferred, the mortgagee may exercise her or his right on the divided or transferred mortgaged property.

    第七十一条 主债权未受全部清偿的，抵押权人可以就抵押物的全部行使其抵押权。

   抵押物被分割或者部分转让的，抵押权人可以就分割或者转让后的抵押物行使抵押权。

  Article 72   The creditor may exercise his share of mortgage immediately after the principal obligation is divided or its partial transfer.

The mortgager shall still mortgage for multiple debtors' obligation with his mortgaged property after the principal debt is divided or partially transferred. If the mortgage is provided by a third party, and the creditor allows the debtor to transfer said debt without the mortgager's written consent, the mortgager will not be liable for such portion of the obligation.

    第七十二条 主债权被分割或者部分转让的，各债权人可以就其享有的债权份额行使抵押权。

   主债务被分割或者部分转让的，抵押人仍以其抵押物担保数个债务人履行债务。但是，第三人提供抵押的，债权人许可债务人转让债务未经抵押人书面同意的，抵押人对未经其同意转让的债务，不再承担担保责任。

  Article 73  Where the proceeds from converting, auctioning or selling a mortgaged property are lower than the agreed value upon creation of the mortgage, payment shall be made according to the actual value of the proceeds. The debtor shall answer for any shortfall.

    第七十三条 抵押物折价或者拍卖、变卖该抵押物的价款低于抵押权设定时约定价值的，应当按照抵押物实现的价值进行清偿。不足清偿的剩余部分，由债务人清偿。

  Article 74   When no agreement of the parties on payment exists, the proceeds from converting, auctioning or selling the mortgaged property shall be paid in the following order:

(1) Necessary expenses of the mortgage right;

(2) Interest of the principal obligation;

(3) Principal obligation.

    第七十四条 抵押物折价或者拍卖、变卖所得的价款，当事人没有约定的，按下列顺序清偿：

   (一)实现抵押权的费用；

   (二)主债权的利息；

   (三)主债权。

  Article 75   Where there are two or more mortgagers for one obligation and the creditor waives his right of mortgage provided by the debtor, other mortgagers may request the court to relieve or exempt them from security liability.

Where there are two or more mortgagers for one obligation, with no agreement whether clear or not on the share or order of obligation mortgaged by properties, the mortgagee may exercise her or his right on any or every such property.

After assuming security liability, the mortgager may have recourse against the debtor or require other mortgagers to answer for their own shares.

    第七十五条  同一债权有两个以上抵押人的，债权人放弃债务人提供的抵押担保的，其他抵押人可以请求人民法院减轻或者免除其应当承担的担保责任。

   同一债权有两个以上抵押人的，当事人对其提供的抵押财产所担保的债权份额或者顺序没有约定或者约定不明的，抵押权人可以就其中任一或者各个财产行使抵押权。

   抵押人承担担保责任后，可以向债务人追偿，也可以要求其他抵押人清偿其应当承担的份额。

  Article 76   Where one movable is mortgaged to two or more creditors without registration of mortgaged property, the creditors shall get payment according to the proportion of the obligations.

    第七十六条 同一动产向两个以上债权人抵押的，当事人未办理抵押物登记，实现抵押权时，各抵押权人按照债权比例受偿。

  Article 77   Where the same property is mortgaged to two or more creditors, if the earlier mortgagee and owner of the property turn out to be the same person, the property owner may defend with her or his mortgage against the later mortgagees.

    第七十七条 同一财产向两个以上债权人抵押的，顺序在先的抵押权与该财产的所有权归属一人时，该财产的所有权人可以以其抵押权对抗顺序在后的抵押权。

  Article 78   Where the same property is mortgaged to two or more creditors, if the later mortgaged obligation expires first, the later mortgagee may only get payment from the portion of value exceeding the earlier mortgaged obligation.

Where the earlier mortgaged obligation expires first, the surplus amount after realization of this mortgage shall be deposited for payment of the later mortgaged obligation

    第七十八条 同一财产向两个以上债权人抵押的，顺序在后的抵押权所担保的债权先到期的，抵押权人只能就抵押物价值超出顺序在先的抵押担保债权的部分受偿。

   顺序在先的抵押权所担保的债权先到期的，抵押权实现后的剩余价款应予提存，留待清偿顺序在后的抵押担保债权。

  Article 79   Where legally registered mortgage and pledge coexist on one property, the mortgagee shall have priority in payment.

Where pledge and lien coexist on one property, the lienor shall have priority over payment.

    第七十九条 同一财产法定登记的抵押权与质权并存时，抵押权人优先于质权人受偿。

   同一财产抵押权与留置权并存时，留置权人优先于抵押权人受偿。

  Article 80   The mortgagee shall have the right of priority while receiving payment out of insurance money, compensation and damages if the mortgaged property is lost, damaged or requisitioned.

Where the mortgaged obligation has not expired on either a lost, damaged or requisitioned mortgaged property, the mortgagee may request the court to preserve the insurance money, compensation or damages.

    第八十条 在抵押物灭失、毁损或者被征用的情况下，抵押权人可以就该抵押物的保险金、赔偿金或者补偿金优先受偿。

   抵押物灭失、毁损或者被征用的情况下，抵押权所担保的债权未届清偿期的，抵押权人可以请求人民法院对保险金、赔偿金或补偿金等采取保全措施。

  Article 81  The scope of mortgage up to a maximum amount shall not include obligations arising either from property preservation or execution procedure of sealing-up, or after bankruptcy of debtor or mortgager.

    第八十一条 最高额抵押权所担保的债权范围，不包括抵押物因财产保全或者执行程序被查封后或债务人、抵押人破产后发生的债权。

  Article 82   Where the parties alter the maximum amount and duration of a mortgage up to a maximum amount and make aclaim against later mortgagees with this alteration, such act will not be supported by the court.

    第八十二条 当事人对最高额抵押合同的最高限额、最高额抵押期间进行变更，以其变更对抗顺序在后的抵押权人的，人民法院不予支持。

  Article 83   After specifying the uncertain obligation secured by a mortgage up to a maximum amount, the mortgagee may exercise her or his right according to the stipulations of general mortgage at the expiration of the performance term.

When exercising such mortgage right, if the actual obligation exceeds the maximum amount, the mortgagee has payment priority for the maximum amount except the exceeding portion. If the actual obligation is less than the maximum amount, the mortgagee shall have payment priority for the actual obligation.

    第八十三条 最高额抵押权所担保的不特定债权，在特定后，债权已届清偿期的，最高额抵押权人可以根据普通抵押权的规定行使其抵押权。

   抵押权人实现最高额抵押权时，如果实际发生的债权余额高于最高限额的，以最高限额为限，超过部分不具有优先受偿的效力；如果实际发生的债权余额低于最高限额的，以实际发生的债权余额为限对抵押物优先受偿。

Part IV: Interpretation of Pledge

   四、关于质押部分的解释

(1) Pledge of Movables

   (一)动产质押

  Article 84   Where the pledgor has no ownership on a movable and pledges such legally possessed movable, after the pledgee exercises his right of security without knowing such fact, said pledgor shall compensate the owner of the movable for the consequent loss.

    第八十四条 出质人以其不具有所有权但合法占有的动产出质的，不知出质人无处分权的质权人行使质权后，因此给动产所有人造成损失的，由出质人承担赔偿责任。

  Article 85   Where the debtor or a third party transfers the possession of special account, sealed money, deposit or other forms of funds to the creditor as pledge for obligation after specifying the above amount, said creditor shall be given priority in receiving payment with such amount if said debtor defaults.

    第八十五条 债务人或者第三人将其金钱以特户、封金、保证金等形式特定化后，移交债权人占有作为债权的担保，债务人不履行债务时，债权人可以以该金钱优先受偿。

  Article 86   Where the debtor or the third party fails to transfer a pledged property at the time agreed upon in the pledge contract thus causing losses to the pledgee, the pledgor shall bear compensation liability for his fault.

    第八十六条 债务人或者第三人未按质押合同约定的时间移交质物的，因此给质权人造成损失的，出质人应当根据其过错承担赔偿责任。

  Article 87   A Pledge contract will not be effective if the pledgor possesses the pledged property in pledgee's place; the court will not support the pledgee if she or he returns the pledged property to the pledgor and defends herself or himself against a third party with her or his pledge.

Where losing possession of pledged property without any fault, the pledgee may require violating possessor to cease infringement, restore original condition or return the property.

    第八十七条 出质人代质权人占有质物的，质押合同不生效；质权人将质物返还于出质人后，以其质权对抗第三人的，人民法院不予支持。

   因不可归责于质权人的事由而丧失对质物的占有，质权人可以向不当占有人请求停止侵害、恢复原状、返还质物。

  Article 88   Where the pledgor pledges an indirectly possessed property, the pledge contract shall be regarded as transfer as of the written notice sent to the processor. The possessor's disposal of pledged property instructed by the pledgor after receiving the pledge notice shall be regarded as invalid.

    第八十八条 出质人以间接占有的财产出质的，质押合同自书面通知送达占有人时视为移交。占有人收到出质通知后，仍接受出质人的指示处分出质财产的，该行为无效。

  Article 89  Where no agreement on pledged property in pledge contract exists or the agreed property is different from what is actually transferred, such property transferred deal shall remain final.

    第八十九条 质押合同中对质押的财产约定不明，或者约定的出质财产与实际移交的财产不一致的，以实际交付占有的财产为准。

  Article 90  The pledgor shall bear compensation liability if the hidden defect of pledged property causes damage to the pledgee's other properties, unless the pledgee knowingly accepts such property at the time of transfer.

    第九十条 质物有隐蔽瑕疵造成质权人其他财产损害的，应由出质人承担赔偿责任。但是，质权人在质物移交时明知质物有瑕疵而予以接受的除外。

  Article 91   Pledge of movable shall have effect on the accessory of pledged property except when said accessory is not transferred to the pledgee together with pledged property.

    第九十一条 动产质权的效力及于质物的从物。但是，从物未随同质物移交质权人占有的，质权的效力不及于从物。

  Article 92   Deposit cost for pledged property deposited according to Article 69 of the Security Law shall be covered by pledgee; the interest of non-expired obligation shall be deducted when the payment is made in advance by the pledgor.

    第九十二条 按照担保法第六十九条的规定将质物提存的，质物提存费用由质权人负担；出质人提前清偿债权的，应当扣除未到期部分的利息。

  Article 93   During the term of pledge, without pledgor's consent, if the pledgee uses, leases, and disposes the pledged property, she or he shall compensate the pledgor for the loss caused by the above behavior.

    第九十三条 质权人在质权存续期间，未经出质人同意，擅自使用、出租、处分质物，因此给出质人造成损失的，由质权人承担赔偿责任。

  Article 94   Where during the term of the pledge, with the pledgor's consent, the pledgee pledges for a third party with the pledged property in her or his possession to secure her or his own debt, such pledge shall not exceed the scope of obligation secured by the original pledge, and the exceeding portion, if any, shall not be paid with priority. Re-pledge is prior to the original one.

During the term of pledge, without the pledgor's consent, the pledgee makes security on the pledged property to a third party to secure the pledgee's debt which shall consequently become invalid. The pledgee shall bear liability for damage caused by pledging anew.

    第九十四条 质权人在质权存续期间，为担保自己的债务，经出质人同意，以其所占有的质物为第三人设定质权的，应当在原质权所担保的债权范围之内，超过的部分不具有优先受偿的效力。转质权的效力优于原质权。

   质权人在质权存续期间，未经出质人同意，为担保自己的债务，在其所占有的质物上为第三人设定质权的无效。质权人对因转质而发生的损害承担赔偿责任。

  Article 95   Where the pledgee is not paid at the expiration of the date for performance, she or he may continue to hold the pledged property and exercise her or his right with all of the property. After receiving payment from the pledgor, the pledgee shall return the pledged property.

Where at the expiration of the term for obligation performance required by the pledgor, the pledgee fails to exercise her or his right thus causing depreciation of the pledged property, the pledgee shall bear the compensation liability for the consequent loss.

    第九十五条 债务履行期届满质权人未受清偿的，质权人可以继续留置质物，并以质物的全部行使权利。出质人清偿所担保的债权后，质权人应当返还质物。

   债务履行期届满，出质人请求质权人及时行使权利，而质权人怠于行使权利致使质物价格下跌的，由此造成的损失，质权人应当承担赔偿责任。

  Article 96   Interpretation of Articles 57, 62, 64, 71, 72, 73, 74 and 80 shall apply to the pledge of movables.

    第九十六条 本解释第五十七条、第六十二条、第六十四条、第七十一条、第七十二条、第七十三条、第七十四条、第八十条之规定，适用于动产质押。

(2) Pledge of Rights

   (二)权利质押

  Article 97   Item (4), Article 75 of the Security Law shall apply to the pledge on proceeds from such real properties as highway bridges, highway tunnels or ferries.

    第九十七条 以公路桥梁、公路隧道或者公路渡口等不动产收益权出质的，按照担保法第七十五条第(四)项的规定处理。

  Article 98   In case of a pledge on bills of exchange, checks and promissory notes, where the term "pledge" is not mentioned in the endorsement, the court shall not support the defense with such pledge against a third party of good faith.

    第九十八条 以汇票、支票、本票出质，出质人与质权人没有背书记载 “质押”字样，以票据出质对抗善意第三人的，人民法院不予支持。

  Article 99   In case of a pledge of company bond, where the term "pledge" is not mentioned in the endorsement, the court shall not support the defense with such pledge against the company and third party.

    第九十九条 以公司债券出质的，出质人与质权人没有背书记载“质押”字样，以债券出质对抗公司和第三人的，人民法院不予支持。

  Article 100   In case of a pledge of deposit certificates, after checking and accepting a loss report, the issuing bank shall bear civil liability for deposit loss caused by it.

    第一百条 以存款单出质的，签发银行核押后又受理挂失并造成存款流失的，应当承担民事责任。

  Article 101   In case of a pledge of bills, bonds, deposit certificates, warehouse receipts or bills of lading, the re-transfer or pledge made by the pledgee shall become invalid.

    第一百零一条 以票据、债券、存款单、仓单、提单出质的，质权人再转让或者质押的无效。

  Article 102   In case of a pledge of bills of exchange, checks, promissory notes, bonds, deposit certificates, warehouse receipts or bills of lading specifying a date for encashment or delivery of goods, where such date falls behind the term for performance of the obligation, the pledgee may only cash it or deliver the goods at the expiration of the encashment or delivery date.

    第一百零二条 以载明兑现或者提货日期的汇票、支票、本票、债券、存款单、仓单、提单出质的，其兑现或者提货日期后于债务履行期的，质权人只能在兑现或者提货日期届满时兑现款项或者提取货物。

  Article 103   In case of a pledge of shares in a joint stock company, the relevant provisions of the Company Law of the People's Republic if China for transfer of shares shall apply.

In case of a pledge of shares in a listing company, the pledge contract shall become effective as of the recording date of said pledge in the security register authorities.

In case of a pledge of shares in a non-listing company, the pledge contract shall become effective as of the recording date of pledge of shares in the shareholders' list.

    第一百零三条 以股份有限公司的股份出质的，适用《中华人民共和国公司法》有关股份转让的规定。

   以上市公司的股份出质的，质押合同自股份出质向证券登记机构办理出质登记之日起生效。

   以非上市公司的股份出质的，质押合同自股份出质记载于股东名册之日起生效。

  Article 104   In case of a pledge of transferable shares and stocks according to law, the pledge right shall have effect on statutory fruits of shares and stocks.

    第一百零四条 以依法可以转让的股份、股票出质的，质权的效力及于股份、股票的法定孳息。

  Article 105   In case of a pledge of property right on a transferable trademark, patent or copyright according to law, where the pledgor assigns such right or permits others to use such right without consent of the pledgee, such act shall be considered invalid. The pledgor shall bear civil liability for the consequent loss of pledgee or the third party.

    第一百零五条 以依法可以转让的商标专用权，专利权、著作权中的财产权出质的，出质人未经质权人同意而转让或者许可他人使用已出质权利的，应当认定为无效。因此给质权人或者第三人造成损失的，由出质人承担民事责任。

  Article 106   Where the pledgee exercises his pledge right to the pledgor or the debtor of the pledged obligation and is then turned down, he may bring a lawsuit against the pledgor and debtor of pledged obligation, or sue the debtor separately.

    第一百零六条 质权人向出质人、出质债权的债务人行使质权时，出质人、出质债权的债务人拒绝的，质权人可以起诉出质人和出质债权的债务人，也可以单独起诉出质债权的债务人。

Part V: Interpretation of Lien

   五、关于留置部分的解释

  Article 107   Where the parties agree in contract to exclude lien, the court shall not support the creditor's lien at the expiration of term for obligation performance.

    第一百零七条 当事人在合同中约定排除留置权，债务履行期届满，债权人行使留置权的，人民法院不予支持。

  Article 108   Where the creditor possesses the debtor's movables according to laws while not aware of the debtor's inability to dispose of the movables, the creditor may be entitled to such lien according to Article 82 of the Security Law.

    第一百零八条 债权人合法占有债务人交付的动产时，不知债务人无处分该动产的权利，债权人可以按照担保法第八十二条的规定行使留置权。

  Article 109   Upon the expiration of the obligation performance term, if the creditor's possession of a movable is related to the occurrence of obligation, the creditor may retain the movable in his possession.

    第一百零九条 债权人的债权已届清偿期，债权人对动产的占有与其债权的发生有牵连关系，债权人可以留置其所占有的动产。

  Article 110   Prior to full payment of the obligation, the lienee may exercise lien on the entire lien article if it is not separable.

    第一百一十条 留置权人在债权未受全部清偿前，留置物为不可分物的，留置权人可以就其留置物的全部行使留置权。

  Article 111   The court shall not support the creditor's lien if such lien conflicts with her or his liability or specific stipulations in the contract.

    第一百一十一条 债权人行使留置权与其承担的义务或者合同的特殊约定相抵触的，人民法院不予支持。

  Article 112   Where the creditor's obligation has not expired while his liability to offer a possessed article has, the creditor shall not be entitled to lien, except if she or he can prove that the debtor cannot pay in any other form.

    第一百一十二条 债权人的债权未届清偿期，其交付占有标的物的义务已届履行期的，不能行使留置权。但是，债权人能够证明债务人无支付能力的除外。

  Article 113   Without informing the debtor to fulfill liability according to Article 87 of the Security Law, if the creditor directly converts the lien article into value, she or he shall bear compensation liability for consequent loss. If the creditor agrees with the debtor on a grace period in the contract according to Article 87 of the Security Law, the creditor may exercise lien without notification.

    第一百一十三条 债权人未按担保法第八十七条规定的期限通知债务人履行义务，直接变价处分留置物的，应当对此造成的损失承担赔偿责任。债权人与债务人按照担保法第八十七条的规定在合同中约定宽限期的，债权人可以不经通知，直接行使留置权。

  Article 114   Provisions of Articles 64, 80, 87, 91 and 93 of this Interpretation shall apply to lien.

    第一百一十四条 本解释第六十四条、第八十条、第八十七条、第九十一条、第九十三条的规定，适用于留置。

Part VI: Interpretation of Deposit

   六、关于定金部分的解释

  Article 115   Where the parties agree to pay a deposit to secure the creation of a principal contract, if the party paying the deposit refuses to respect the contract as agreed, she or he shall not have the right to demand a refund of the deposit; where the party receiving a deposit refuses to respect the contract, she or he shall refund twice the amount of the deposit.

    第一百一十五条 当事人约定以交付定金作为订立主合同担保的，给付定金的一方拒绝订立主合同的，无权要求返还定金；收受定金的一方拒绝订立合同的，应当双倍返还定金。

  Article 116   Where the parties agree to pay a deposit as the condition for creation or validation of the principal contract, if the party which should pay the deposit defaults, the creation and effect of said principal contract shall not be influenced when the principal contract or the major part of it has been performed.

    第一百一十六条 当事人约定以交付定金作为主合同成立或者生效要件的，给付定金的一方未支付定金，但主合同已经履行或者已经履行主要部分的，不影响主合同的成立或者生效。

  Article 117   After the payment of a deposit, the party paying it may terminate the principal contract by losing the deposit according to the agreement in the contract, while the party receiving the deposit may terminate the principal contract by refunding twice the amount of the deposit. The Contract Law of the People's Republic of China shall apply to the consequence liability to terminate the principal contract.

    第一百一十七条 定金交付后，交付定金的一方可以按照合同的约定以丧失定金为代价而解除主合同，收受定金的一方可以双倍返还定金为代价而解除主合同。对解除主合同后责任的处理，适用《中华人民共和国合同法》的规定。

  Article 118   Where the parties providing funds of lien, security, guarantee, contract conclusion deposit, pledge or deposit have not agreed on the nature of deposit, if the parties require the right of deposit, the court will not support it.

    第一百一十八条 当事人交付留置金、担保金、保证金、订约金、押金或者订金等，但没有约定定金性质的，当事人主张定金权利的，人民法院不予支持。

  Article 119   Where the actual payment of deposit approximately represents the agreed amount, the deposit contract shall be considered as altered; the deposit contract shall not come into effect if the receiving party holds an objection to the deposit and refuses to accept it.

    第一百一十九条  实际交付的定金数额多于或者少于约定数额，视为变更定金合同；收受定金一方提出异议并拒绝接受定金的，定金合同不生效。

  Article 120   The penalty rule of deposit may be applied when the purpose of the contract cannot be fulfilled due to one party's delay in performance or other breach of contract, except as otherwise stipulated by laws or by the parties' agreements.

The penalty rule of deposit shall apply according to the proportion of the unperformed part if one party fails to completely perform the contract.

    第一百二十条 因当事人一方迟延履行或者其他违约行为，致使合同目的不能实现，可以适用定金罚则。但法律另有规定或者当事人另有约定的除外。

   当事人一方不完全履行合同的，应当按照未履行部分所占合同约定内容的比例，适用定金罚则。

  Article 121   Where the agreed deposit amount exceeds twenty percent of the value of the subject matter for the principal contract, the court shall not support the exceeding portion.

    第一百二十一条 当事人约定的定金数额超过主合同标的额百分之二十的，超过的部分，人民法院不予支持。

  Article 122   The penalty rule of deposit shall not apply when the principal contract is not fulfilled due to force majeure or accident. Such rule shall apply if the principal contract is not fulfilled due to a third party's fault bound by an outside contract. The punished party may have recourse against the third party according to laws.

    第一百二十二条 因不可抗力、意外事件致使主合同不能履行的，不适用定金罚则。因合同关系以外第三人的过错，致使主合同不能履行的，适用定金罚则。受定金处罚的一方当事人，可以依法向第三人追偿。

Part VII: Interpretation of Other Issues

   七、关于其他问题的解释

  Article 123   Where multiple security rights coexist for one obligation, if the creditor waives the security of property provided by the debtor, other guarantors shall be lessened or exempted from security liability within the scope of the creditor's waiver of right.

    第一百二十三条 同一债权上数个担保物权并存时，债权人放弃债务人提供的物的担保的，其他担保人在其放弃权利的范围内减轻或者免除担保责任。

  Article 124   Where a branch of legal person enterprise provides guarantee for others, such enterprise may be called by court as co-defendants in the lawsuit of guarantee disputes, except when the security is provided by the branch of a commercial bank or insurance company.

    第一百二十四条 企业法人的分支机构为他人提供保证的，人民法院在审理保证纠纷案件中可以将该企业法人作为共同被告参加诉讼。但是商业银行、保险公司的分支机构提供保证的除外。

  Article 125   The court may evaluate the dispute with debtor and guarantor as joint defendants when the creditor of a general guarantee files a lawsuit against both debtor and guarantor. However, it shall be confirmed in the verdict that the guarantor shall bear security liability if the obligation cannot be fulfilled after compulsory execution of debtor's properties.

    第一百二十五条 一般保证的债权人向债务人和保证人一并提起诉讼的，人民法院可以将债务人和保证人列为共同被告参加诉讼。但是，应当在判决书中明确在对债务人财产依法强制执行后仍不能履行债务时，由保证人承担保证责任。