The Research On The Application And Perfection Of The Rules Of Project Payment Guarantee

The project payment guarantee is a kind of guarantee generally required to be applied in the current project guarantee.Since its implementation,the rules composed of the guarantee specifications and the construction project contract specifications have been vague in application,which has caused the dispute between the general and independent guarantee in the project practice,and made the guarantee show a trend of strong subordination and weak documentation.Due to the restrictions of the subordinate nature on the interpretation of the guarantee terms,there are contradictions in the determination of the guarantee mode and differences in the interpretation of the guarantee scope in the applicable rules of the general guarantee.Due to the lack of standardization of the judicial interpretation of independent guarantee,the standard of document review of independent guarantee is not unified,and the application of guarantee fraud and exceptions is unclear.In order to perfect the application of the general guarantee rules,on the basis of analyzing the feasibility of foreign experience,from the perspective of the breakthrough of the concept of substantive guarantee and the emphasis on the form of guarantee from the perspective of attribute and commercial interpretation principles,the attribute shows a moderate trend;From the system innovation of the applicable rules,the proposed acceptance rules are embedded in the civil code to accelerate the payment of project funds,and expand the guarantor’s payment obligations to protect the interests of the beneficiaries.Therefore,it is suggested that we should improve the documentary provisions of the letter of guarantee from the commercial attribute of the letter of guarantee,supplement the principles of appearance and efficiency to explain the terms of the letter of guarantee,quantify the guarantee scope of the payment letter of guarantee,and promote the commercial expression of the text of the general letter of guarantee.To improve the application of independent guarantee for project payment in China,we need to learn from the targeted provisions in urdg753 rules,including specific and clear independence recognition standards,highly operational strict compliance review standards and simple and easy guarantee reduction mechanism to promote the application of China’s independent guarantee rules in practice.For the purpose of perfecting the project guarantee and standardizing the construction market,the legal status of the independent guarantee for project payment should be determined as soon as possible,and the civil legislation should be promoted from the perspective of systematization,so as to clarify the independence identification and document review of the guarantee,add the reduction mechanism of the guarantee,and gradually improve the localization and application rules of the independent guarantee.