As to guarantee insurance contract being an insurance contract or a guaranty contract, our na-tional laws don t give a definite definition,but there are different point-views coming from theory field and practice, judicial field and insurance field.

If the creditor loses guaranty depending on guaranty contract,which would be null and void,for fault in surety,the guarantor should bear fault liability during entering into a contract.

In the practical management of enterprises,most disputes caused by guarantee contract come from the fraud when the contract is signed.

According to the Chinese Guarantee Law,the thing guarantor is endowed with recourse right to the creditor after the realization of real right for security,but the range of the recourse right is not definite.