The Independent Guarantee Contract

With the development of modern business transactions, in order to control trade risk effectively, a new form of personal security - independent guarantee contract has come into being.Confining to history and cognition, most of people misunderstood the nature of independent guarantee. Through comparative and analytical approach, based on certain country's statute law and legal practice in independent guarantee, this article makes a comprehensive and profound study on the legal nature of independent guarantee contract.This article consists of five chapters:Chapter I introduces the concept, history and background of independent guarantee contract.Chapter II focuses on the contract nature of independent guarantee. From development view, the article analyzes the reason of why the author call independent guarantee for independent guarantee contract, and considers that independent guarantee have contract's characters exactly. Only from contract angle, we will really know the development of independent guarantee contract and the utilizable probability of real life.Chapter III discusses the independent nature of in dependent guarantee. From historical view, the article analyzes the nature of independence, and considers that independent guarantee has no independent character in nature exactly. Misusing the nature of independence for Standby Letter of Credit (Standby L/C) is the main reason...