Empirical Research on Fidelity Guarantee

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This research project aims to study the reality of the fidelity guarantee (Mimoto-Hosho) in Japan based on empirical research. It consists of a case study of judicial decisions on fidelity guarantee in the last twenty years and a questionnaire survey of Japanese companies on fidelity guarantee.According to the survey, 74.8% of the responding companies answered that they adopted the fidelity guarantee system. On the other hand, we recognized that there was diversity of the meanings and applying of fidelity guarantee.The determination method of a guarantor's responsibility based on the Fidelity Guarantee Act which was enacted in 1933 is unique. Courts have limited the range of guarantor's responsibility by judicial discretion based on the Act. But, this method does not work well therefore the parties feel uncertain over the fidelity guarantee system. We have to consider amending the Act on the fidelity guarantee system.