On Independent Guarantees In International Trade

As a new form of security devices, independent guarantee is widely used in the area of international trade. On the other side of this coin, the provisions regarding it are still far away from perfection and maturity. Owing to this, the author regards it as a meaningful job to write an essay illustrating the independent guarantee systematically.This essay includes four parts:In chapter one, the author illustrates some of the fundamental issues of independent guarantee, such as its concept and its characteristics at first. Then, he discusses how to identify the independent guarantee in actual operation.Chapter two puts its emphasis on the rights and obligations of each party in the legal system of independent guarantee, so that it can establish the framework of independent guarantee.Chapter three analyses how to control and prevent the legal risks of independent guarantee, which is highly concerned by each party, in the hope of diminishing the disputes in actual operation and balancing the benefits of all the parties.In conclusion, chapter four provides several pieces of advice for improving the legal system of independent guarantee after analyzing some of the problems in both theory and practice.