Integrity Will Guarantee-World Credit Organization
5.6 Integrity guarantee
5.6.1 Introduction to Integrity Guarantee
Integrity guarantee is an innovative credit service of the World Credit Organization (WCO). Applicable standard: "ICE8000 International Credit Standard System Integrity Guarantee Standard" (https://www.ice8000.org/acnhwgc/92.htm)
The main content of the honesty will guarantee service: according to the application of the organization, the credit institution will provide a guarantee for the organization's good faith after the organization establishes an ICE8000 credit file or meets other conditions. If the organization has dishonest behavior, the credit agency will help the victim to punish the organization for credit and hold the organization accountable. The credit institution shall not undertake the repayment obligation for the organization's breach of contract.
The value of honesty and willingness guarantee service to customers is: to prove to the stakeholders of the organization that the organization has a good faith will, so as to dispel the anxiety of the stakeholders. When disputes arise between organizations and their stakeholders, they can use the ICE8000 dispute resolution mechanism to resolve disputes.
5.6.2 The difference between honest will guarantee and credit guarantee
Credit guarantee means that the guarantor provides guarantee for the guaranteed party to sign a contract or/and the performance of some or all terms of the contract. If the guaranteed party fails to perform the contract, the guarantor shall bear the corresponding legal responsibility according to the guarantee contract . Credit guarantee is a traditional credit service.
Integrity guarantee means that the guarantor provides a guarantee for the guarantor's good faith will. If the guarantor has dishonest behavior, the guarantor will assist the victim of interests to pursue the guarantor's credit responsibility, and guarantee that the guarantor will comply with ICE8000 The international credit standard system standard bears credit responsibilities, such as: public complaints, public exposure, joint exposure, etc. Integrity guarantee is a new business of ICE8000 international credit standard system innovation.
A guarantor with good faith will only guarantee that the guaranteed party has a true identity and good faith will, and does not make any guarantees for the guaranteed party's performance and solvency, nor will it bear joint and several legal liabilities for the guaranteed party's performance and solvency .The above content is excerpted from "Introduction to ICE8000 Credit Knowledge" (written by Fang Bangjian, free to use, but please indicate the source)