The Research For The Legal Problems Of Fraud Exception Of Independent Guarantee

In international trade,As a modern international credit guarantee,Independent guarantee have long been playing a vital role in trade.Independent guarantee promotes the development of international trade. However, because of the inherent characteristic of independence of independent guarantee and the complexity of the international trade, the independent guarantee fraud case has occurred frequently.It not only affects the normal order of international trade seriously, but also influences the value of independent guarantee system.There are many reasons for the happening of independent guarantee fraud.The fundamental reason is the characteristic of independence of independent guarantee and the external reason is that different countries have too many differences in judging the independent guarantee fraud case.In order to control the occurrence of independent guarantee fraud and balance the interests of both parties, countries establish the independent guarantee system,and they acknowledge fraud exception principle at the same time to allow the court to issue injunctions against the issuer to pay the Fraudulent beneficiary, in order to relieve the victims of independent guarantee fraud. However, it must be harmful to there gular nations of independent guarantee if the interpretation of fraud be amplified.Therefore, it is beneficial to reach a Balance between the principle of independent guarantee and fraud exception.Fraud exception principle include the principle of good faith, the principle of fairness and the principle of reservation of public order.The way to realize fraud exception principle includes the refuse of guarantor and court injunction.Independent guarantee must be used intensively in international economic transactions by our country in future, but the research of independent guarantee fraud just on a initial stage.There are so many problems existed in anti-independent guarantee fraud system. The main problem is the lack of legislation and legal explanation of independent guarantee fraud. Through studying the law of major western countries and the United Nations independent guarantee and standby letter of credit convention,This paper puts forward some advices from the two aspects of substantive law and procedural law to consummate the legislation and to rule reasonably and to perfect the independent guarantee fraud system of independent and promote the development of international trade.