Research On Independent Guarantee System In China

As the increasingly frequent commercial exchanges,the international economic cooperation is becoming more and more deep.Independent guarantee business has become very common in commercial banks all over the world.In the early stage of reform and opening up,China’s economic and social system is relatively backward,especially in the financial field,so it was introduced to China in early 80 s.At that time,with the implementation of the policy of opening to the outside world,the investment and project construction of MNCs in China were more and more.Foreign exchange guarantee business is gradually carried out in domestic financial institutions.Foreign exchange guarantee business is becoming more and more important in commercial banks.In recent years,with the increase of national comprehensive strength,the level of reform and opening up has been continuously improved.The government should transform the way of economic development,pay more attention to the economic and social benefits brought by foreign investment,encourage enterprises to implement the strategy of "going global",participate in the cooperation of large-scale infrastructure projects abroad,and promote brand products.This introduced a strategic vision The Belt and Road,set up the Asian investment bank and other large international financial institutions as a way.This makes the trade and financial exchanges between China and other countries closer.In the project bidding,independent guarantee has become an important link and important condition in foreign trade and cooperation.To a certain extent,it also drives the rapid growth of the domestic independent guarantee business,so that it expands its application field and penetrates from abroad to domestic commercial trade.And the resulting cases and economic disputes are also increasing.However,the laws and regulations of independent guarantee are almost blank in our country.The court and the parties lack of clear judgment and behavior,which makes our guarantee institutions in the business often face the effectiveness of risk,because the courts often tend to be classified as invalid,enthusiasm,blow to our commercial transactions of the parties therefore,establish and improve the integrity of the independent guarantee system has become very necessary and urgent.In this context,the Supreme People’s court through in-depth research and sufficient scientific proof,in reference to foreign legislative experience of developed countries and the current situation of social economy in China based on the account,which lasted four years,the number of drafts.Finally,in 2016,the provisions of the Supreme People’s Court on Several Issues concerning the trial of independent guarantee disputes were issued.This is the first time that China recognised the domestic effectiveness of independent guarantee,which relieved the embarrassment of independent guarantee parties to a certain extent.It has mileage signification in guarantee legislation.On the contrary,but issued a judicial interpretation does not mean that all problems,this is a start,the first step in the Long March,the independent guarantee system in our country there are many shortcomings need to reflect and perfect.Therefore,it is of certain theoretical and practical significance to study the subject seriously and deeply.This article mainly consists of four parts,the basic theory,the status quo analysis,the problem summary and the system perfection: The first is the basic theory of independent guarantee,is also the key part of this article,which mainly introduces the substantive content of the independent guarantee,including The rise and development of independent guarantees,the concept,the legal relationship,the characteristics and the rights and obligations of the parties,etc.,in addition to its traditional subordinate security made some comparison.Secondly,the analysis of the status quo and judicial practice of independent guarantees,which is an introduction to international practice,international conventions and foreign domestic law origin and judicial practice related to independent guarantees and on this basis,Carry out comparative research,analyze and summarize the successful experiences of foreign independent guarantee development,and explore the development direction of China’s foreign guarantee legislation.Thirdly,it summarizes the main problems existing in our country’s independent guarantee system,such as the confusion of laws and regulations,the lack of comprehensive and detailed guarantee rules,the poor practical operability and the defects and risks in the independent guarantee system.Fourthly,it puts forward perfect measures to solve the problems and risks in the application of independent guarantee.And discusses the necessity of the construction of the independent guarantee system in our country,and puts forward some concrete suggestions on the legal status,form and content of the independent guarantee in our future legislation.