Rethinking on Minimum Guarantee Clause in Entrusted Wealth Management Contracts
The Guidelines on Regulating Entrusted Financial Management of Financial Institutions provide guidance for resolving disputes over minimum guarantee clauses for entrusted wealth management by financial institutions,but there are still application difficulties for private entrusted wealth management.Based on the comparative analysis of sample data before and after the implementation of"National Court Civil and Commercial Trial Conference Minutes"(Law[2019]254)and"Civil Code",it is proposed that regulatory paths should be distinguished between financial entrusted wealth management and private entrusted wealth management contracts in order to better prevent and control the risks in the entrusted wealth management market,and legislation and judicial judgment rules for the naming of entrusted wealth management contracts should be improved.Regarding the minimum guarantee clauses for entrusted wealth management by financial institutions,the"invalidity"theory should be adhered to.The effectiveness of the minimum guarantee clauses in private entrusted wealth management contracts should be further subdivided.For non-financial institution entrusted wealth management contracts,the"invalidity"rule of the minimum guarantee clauses for entrusted wealth management by financial institutions should be applied by analogy.For occasional and small contract signed by natural persons,their contract autonomy should be respected,and the"validity"of the minimum guarantee clauses should be supported.
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