Applying Independent Performance Guarantee In Construction Contracts

In 2017,the General Office of the State Council issued the Opinion on Promoting Sustainable Sound Development in Building Industry and proposed implementation of performance guarantee in construction contracts.However,domestic juridical practice holds the negative attitude towards independent guarantee in the long term.How to use independent performance guarantee in construction contracts is lack of theoretical research and commercial application.In this thesis,the author figures out the concepts of independent guarantee and independent letter of guarantee,analyzes the property of performance guarantee in construction contracts,and elaborates the independence of performance guarantee in construction contracts.Starting from the criterion of identification on substantiality of independent letter of guarantee,the author discriminates independent clauses of performance guarantee in construction contracts and discusses independent degree of performance guarantee in construction contracts from repaying capability and repaying consciousness.Also,the author discusses the value of law in independent letter of guarantee,analyzes the fraud exception types,and elaborates three legal remedies.Finally,the author introduces ownership alienation guarantee system in practical application of performance guarantee in construction contracts and provides an idea for movable property counter guarantee of contractors' performance guarantee.Considering risk control of bank guarantee,the author studies co-payment guarantee of party issuing contract and uses the implementation opinions of Anhui,Jiangsu and Guizhou on performance guarantee in construction contracts to discuss relevance and parity of contractors' performance guarantee and payment guarantee of party issuing contract.Besides,the author discriminates and studies relevant clauses in Stipulations on Several Issues about Hearing Independent Letter of Guarantee Dispute Cases by Supreme People's Court.