What is the responsibility of the loan guarantor?
1 civil liability
According to Article 5 of the Guarantee Law of People's Republic of China (PRC), the guarantee contract is a subsidiary contract of the main contract, and the main contract is invalid. If there are other provisions in the guarantee contract, such provisions shall prevail. If the debtor, guarantor and creditor are at fault after the guaranty contract is confirmed to be invalid, they shall bear corresponding civil liabilities according to their faults.
2 Civil joint liability
According to Article 18 of the Guarantee Law of People's Republic of China (PRC), if the parties agree in the guarantee contract that the guarantor and the debtor shall bear joint liability for the debt, it belongs to joint liability guarantee. If the debtor of joint and several liability guarantee fails to perform the debt at the expiration of the debt performance period agreed in the main contract, the creditor may require the debtor to perform the debt, or may require the guarantor to assume the guarantee liability within the scope of its guarantee. Article 19 stipulates that if the parties have not agreed on the method of guarantee or the agreement is unclear, they shall bear the guarantee liability according to the joint and several liability guarantee.
Therefore, when people around you borrow money, don't easily become someone else's loan guarantor.