Bank Guarantee and Standby Letter of Credit Legal Practice

Author: Zhou Huibin
Publisher:
Publish Date: 2003-06-01
Features: The development of modern international trade is inseparable from the widespread application of credit guarantees. Based on an in-depth study of the legal provisions, practices, and conventions related to performance bonds and standby letters of credit in China, the International Chamber of Commerce, and the United Nations, this book systematically explores the meaning, classification, legal nature, operational procedures, and rights and obligations of the parties involved in performance bonds and standby letters of credit. It provides strong guidance for Chinese banks and other guarantee institutions to engage in the practice of performance bonds and standby letters of credit, and also offers a reference for China to improve relevant legislation in the future.