International contract of guarantee-About International contract of guarantee:
What is the international contract of guarantee?
International guarantee contract is different in different countries of nationality or the parties agree, the other party to provide security, when the security event occurs, the Guarantor will guarantee the obligations within the limits of servers together to fulfill the agreement. International guarantee contract is a part of people's security, is to adapt to the needs of the contemporary economic and trade development, and business practices by the bank developed a new type of human security. Since in most cases by banks to act as guarantor to the beneficiary by the bank guarantee, it is generally known as a bank guarantee.
There are three international parties to the contract guarantees: guarantees the applicant, the beneficiary and the guarantor, triangular relationship between them, and constitute three different legal relationships. First relationship. Guarantee the applicant and the beneficiary is the relationship between, this is a business relationship; guarantee the applicant and the second relationship is the relationship between the bank guarantee, which is a principal relationship, that the applicant submit an application by the guarantee, instructed banks to provide guarantees to the beneficiary; third relationship is the security relationship between the bank and the beneficiary, that is guaranteed by the bank according to the instructions of the applicant, a guarantee to the beneficiary, and thus directly to the beneficiaries obligations.
International contract of guarantee - the establishment of
The establishment of an international guarantee of the contract, according to some national law, in the guarantee contract issued by a bank guarantee received by the beneficiary when the book began. In practice, business, security guarantees issued by banks, the first beneficiaries are generally issued by fax, and then resent guarantee.
International warranty contracts - content
The contents of the international contract of guarantee by the beneficiary of more general formulation, and that bank and the beneficiary in the guarantee agreement has been implied: that the beneficiary will receive a guaranteed bank guarantees, letters, without the receipt by the beneficiary guarantee contract, to raise the bank to make that commitment. Such as the German Civil Code Article 157 provides that, where according to: recognize the practice of soil, without waiting for the promise that the contract was due to receive an offer was set up. German law is issued by the bank as bank guarantees and letters of credit issued to the beneficiary an offer. International constitutional guarantee contracts in the international economy: easy to use and has been widely played a very important role, but in the world, both the common law countries, civil law countries or in the statute has not yet been made on the provisions of this contract . Until now, only a Czechoslovakia in 1964, "International Trade Code" and the former East Germany in 1978, "International Economic Contract Law" in this new type of contract involved. However, both countries or in the cases admitted in the academic legal effect of this new contract.
