If it is only a witness, it is enough to prove the existence and authenticity of the debt, and generally there is no need to bear other legal responsibilities. But before signing for confirmation, it is necessary to know whether the letter of commitment is a witness or a guarantor. These are two different concepts. If the IOU states that it is a witness, it is also responsible, but it is not the responsibility of the guarantor to repay the loan, but the responsibility of proving the authenticity of the IOU when there is a dispute between the borrower and the borrower.

Legal analysis

The witness on the IOU is not responsible. The witness is only a witness of the loan and does not bear any legal responsibility for the loan. The witness in the loan is dispensable. Unless otherwise agreed, in the non-governmental lending relationship, people and witnesses who only play the role of contact and introduction are not liable for the performance of debts. What is the responsibility of the witness in the loan contract? My answer is as follows. According to the law, the witness of the loan agreement is different from the guarantor. Witnesses only need to bear the burden of proof in law, and guarantors need to bear joint and several liability for compensation when borrowers and borrowers fail to perform their obligations. Witnesses to the loan agreement shall not bear civil liability for repayment of debts. The loan witness only proves the fact that the loan occurred, as well as who the borrower and the borrower are, the date when the loan occurred, the amount of the loan, the agreed interest, the repayment method and the repayment time. This is completely different from the concept of guarantor. Guarantee means that when the lender fails to fulfill the repayment obligation, the loan guarantor needs to undertake the loan repayment obligation according to the loan contract, that is, directly repay the loan for the borrower.

legal ground

Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases Article 21 If a borrower and a lender form a lending relationship through the peer-to-peer lending platform, and the peer-to-peer lending platform provider only provides media services, the people's court will not support it if the parties request it to assume the guarantee responsibility. The people's court shall support the online loan platform provider who expressly provides a guarantee for the loan through websites, advertisements and other media or has other evidence to prove that the lender requests the online loan platform provider to assume the guarantee responsibility.