On The Legal Nature Of Independent Guarantee

With the continuous development of economic globalization,the economic integration of various countries has become closer and closer.Even in the context of the escalating trade war between China and the United States,it cannot stop the development of the economic community.Because the community with a shared future for mankind has entered a new stage of development.Because of the independence of the main body of each country,the international economic and trade forms are becoming more and more diversified,and the requirement for the stability of economic and trade becomes higher and higher.At this time,the independent guarantee is more easily accepted by each trade body and applied more widely.Development has grown stronger and contradictions have become more prominent.Independent guarantee is a new type of guarantee which is different from the traditional guarantee mode and is independent of the existence of the main contract.In the event of a buyer’s breach of contract and non-payment,the beneficiary may,within a specified period of time,hold an independently guaranteed claim document requesting payment by the guarantor,and the guarantor shall at this time fulfil the obligation of formal review,If the documents submitted by the beneficiary comply with the prima facie conformity,the guarantor shall make payment,except in the event of an independent guarantee fraud.China began to adopt international practice roughly in the 1980 s,and applicants can apply in our country to provide guarantees for beneficiaries abroad,currently in our country,Many commercial banks have opened more types of independent secured transactions and stand-by letters of credit,in particular,the provisions of the Supreme people’s Court on certain issues in cases of Independent guarantee disputes formally implemented in 2016,It has made an important preparation for the development of independent guarantee system in our country.Independent guarantee,usually in the form of demand guarantee,independent guarantee and standby l etter of credit.The main body of an independent guarantee or standby letter of credit,which is usually issue d on demand,is a bank.Since it is a common form of security in international trade,this form of guarantee is different from the subordinate security of domestic guarantees,Independent guarantee has its own charac teristics of independence,independent from the main contract,and can not be affected by the basic transacti ons,so that multinational companies and enterprises in international trade,can go out of the country withou t any worries,A globalized international trade.However,despite the existence of internationally accepted i ndependent guarantees,there is no uniform standard of measurement for the treatment of independent guara ntees,and even the conceptual meaning of the term "independent guarantee" is inconsistent.In the final ana lysis,the different understanding of the legal nature of the independent guarantee leads to the differences be tween the judicial organs of various countries.This paper analyzes the legal nature of independent guarante e from three parts,combines theory and practice,discusses and discusses it in detail as much as possible.M oreover,the purpose of this paper is to explore the nature of independent guarantee,from the United States,the United Kingdom,Germany and other developed countries for the independent guarantee of the various r esearch and legal system as a reference,combined with our current theoretical and practical circles of the s pecific situation,to make a specific in-depth analysis.