Re-guarantee refers to the guarantee established by the guarantor. In the case that the guarantor cannot bear the guarantee liability alone, the deputy guarantor shall take the proportion stipulated in the guarantee contract as the guarantee, or jointly undertake the joint guarantee with the guarantor. The parties shall bear corresponding obligations and enjoy corresponding rights in accordance with the contract.

Re-guarantee is a kind of connection with the original guarantee and an extension of the guarantee chain. Similar to reinsurance, it refers to the re-guarantor's credit enhancement to the original guarantor or compensation for credit loss, and can also play a role in safeguarding and realizing the interests of creditors. Its basic operation mode is that the original guarantor pays a certain fee paid by the re-guarantor, thus transferring part of the risk responsibility of the guarantee to the second guarantor.

Can the applicant and beneficiary be the same person?

The insured and the beneficiary can be the same person. The insured refers to the person protected by the insurance contract, that is, the person who has the right to claim compensation or obtain insurance money from the insurer after the occurrence or termination of the insurance accident. Beneficiary refers to the right of the insured or the insured to get compensation after an insurance accident as stipulated in the insurance contract.