However, if the lender requires it, or the parties negotiate to guarantee the performance of the debt, a guarantor is needed.

If the debt does not need to be guaranteed, there is no need for a guarantor.

According to the provisions of Article 386 of the Civil Code, in the case that the debtor fails to perform due debts or the parties agree to realize the security interest, the holder of the security interest has the priority to be compensated for the secured property according to law, except as otherwise provided by law.

Article 387 Where a creditor needs security in order to ensure the realization of his creditor's rights in civil activities such as lending, buying and selling, he may establish a security interest in accordance with the provisions of this Law and other laws. If a third party provides a guarantee for the debtor to the creditor, it may require the debtor to provide a counter-guarantee. The provisions of this law and other laws shall apply to counter-guarantee.

Article 388 To establish a security interest, a security contract shall be concluded in accordance with the provisions of this Law and other laws. Guarantee contracts include mortgage contracts, pledge contracts and other contracts with guarantee functions. The guarantee contract is subordinate to the principal creditor's rights and debts contract. If the principal creditor's rights and debts contract is invalid, the guarantee contract is invalid, unless otherwise stipulated by law.