| The independent guarantee system is a frequently used credit guarantee system in the area of international financing and guarantee, it has acquired a far-ranging application since 1970s and many relevant international legal practices also came into being gradually.As economic foundation goes before superstructure, independent guarantee system as an important part of the superstructure correspondingly reflects its economic foundation and its value orientation. Its coming into being is based on merchants'pursuit for the efficiency value, its concrete system constructions are built on its breakthrough by contrast to the accessoriness of traditional surety and its switching from the pursuit for modal equity to the pursuit for substantive equity. Through the establishment of the"fraud exception"system, the transaction... |
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