Analysis Of The Fraud Dispute Of Letter Of Guarantee Between Company W And Company D

With the deepening of economic globalization,independent guarantee is widely used in practice because of its independence,which can provide independent guarantee and reduce contract risk in commercial transactions.However,it is precisely because of the independence of the letter of guarantee,which is independent of the legal relationship under the basic contract,that the cases of beneficiary fraud often occur in judicial practice,which brings risks to the parties to the transaction.Therefore,on the basis of fully respecting the independence of guarantee,in order to solve the problem of independent guarantee fraud,this paper mainly analyzes the problem of fraud identification.Taking the case of the letter of guarantee fraud dispute between W company and D company as an example,this paper makes a detailed analysis of the basic case and concludes that there are two disputed issues.The first is the determination of the independence of the letter of guarantee involved in this case and the application of law.The second is the determination of whether the beneficiary in this case constitutes independent guarantee fraud and counter guarantee fraud.The court of first instance,the court of second instance and the court of retrial have different understandings on the independence of guarantee,resulting in the three judgments with completely opposite results.Therefore,this paper firstly combined with the case from the abstraction principle,independent clause,the independence of judgment standard to guarantee the independence of the three parts carries on the analysis,and analyzes United Nations Convention on Independent Guarantees and Uniform Rules for Demand Guarantees reflections on its application in our country and on the questions of application of the law and derivations in this case.Secondly,in this paper,in conjunction with the United Kingdom,the United States and other countries and international conventions on the determination of fraud standards,analyzes the provisions of Chinese law on the determination of fraud standard and puts forward proposals to improve the subject of document fraud and increase the provisions of counter guarantee fraud.Through the analysis of the basic legal issues of the cases of letter of guarantee fraud,this paper expects that we can deal with the cases of letter of guarantee fraud on the basis of maintaining the independence of letter of guarantee in judicial practice and promote them to play a better role of independent guarantee in commercial activities and fully adapt to Chinese "the Belt and Road " initiative.