Based on the nature of performance guarantee insurance mentioned above, we will find that it is not quite the same as the general insurance business, and where exactly is the difference? The characteristics of this type of insurance are summarized as follows:

1. The main body of the legal relationship of performance guarantee insurance has three parties, i.e., the insurance company, the borrower and the bank. While the parties to the general insurance legal relationship is only the policyholder and the insurer of two parties, and the beneficiary is listed as the relationship of the insurance contract. This is because the general insurance claims is the insurer to the policyholder direct compensation without any barrier, while the performance guarantee insurance compensation is not for the policyholder that is the borrower loss, but for the policyholder's creditor that is the bank's loss.

2, performance guarantee insurance contract is a kind of contract, while the general insurance contract is an independent contract. The insurance contract is the policyholder to deliver the required premium, and the insurer of the subject matter of the coverage of the loss caused by an insurance accident, the insurance amount within the scope of liability or at the expiration of the contractual period of time, the obligation to pay the insurance benefits of the agreement. The subject matter of insurance here, for general property insurance refers to specific property or property-related property interests; relative to personal insurance refers to human life or health. Compared to the performance guarantee insurance, the subject is "performance", and performance is not an independent subject, it depends on the debtor's action or inaction whether the main contract on the debtor's obligations, this insurance is the debtor's debt payment, default, failure to bear the subsidiary responsibility of the written commitment, therefore, the contract can not be separated from the property insurance contract, or property interests related to property. Therefore the performance bond insurance contract cannot exist separately from the main contract.

3, the insured has an obligation to the insurer to repay. Performance guarantee insurance is a property insurance, so the insurer has a subrogation right to the insured will not be detailed here. It is just worth mentioning that in the performance guarantee insurance business, once the insurance company pays the bank, it has obtained the status of the borrower's creditor, at this time, the insurance company has a lot of power, the borrower's right of recourse to the borrower's claim has not only limited to the borrower's debtor, in the scope permitted by law, the insurance company based on the status of its creditor can be all the property of the insured to exercise the right of recoupment.

4, the insurance company of the borrower's credit review is extraordinarily strict. As the insurance company in the performance guarantee insurance business, the risk of its underwriting has a strong credit, so the insurance company on the borrower's credit review is very careful. Only if they have confidence in the borrower's timely repayment, they will underwrite, so for the insurance company, most of the performance guarantee insurance business undertaken by the borrower to pay the premium is essentially just a formality of insurance.