Introduction to the New PRC Independent Guarantee Provisions - NEW
The Supreme People's Court of China has officially adopted rules for all court cases involving independent guarantees, effective 1 December 2016.
These rules will impact guarantees involving China in a variety of ways, making it critical for practitioners to familiarize themselves with the rules and their effects.
This exclusive 120 minute video presentation features Professor James E. Byrne, Director of the Institute and Jin Saibo, preeminent Chinese litigator who was instrumental in the adoption of these rules by the People's Supreme Court of China. Get a head start on the competition by learning how these rules will affect your business with China.
For the Annotated English Translation of the PRC Independent Guarantee Provisions, please click here.
More information about the new Chinese guarantee rules:
They include extensive provisions regarding fraud, and allow for suspension of payment
The rules allow for application of international practice rules (URDG758, ISP98, UCP600)
- Independent domestic guarantees are permitted
- It is made clear that the rules are inapplicable to a traditional suretyship or accessory guarantee
The rules provide a definition and a default rule for what constitutes an independent guarantee
*Important Note: When first viewing this video, your screen may go white after entering your password – simply refresh the page in order to prompt the video to load. This video has been tested on the latest versions of Chrome, Internet Explorer, Safari, and Firefox. If the video will not load in one browser, please try another. You may need to refresh several times, or even close the page and reopen it to make the video load properly. We apologize for any inconvenience. For technical issues, please contact Chris Sandler via email at Sandler@iiblp.org. These steps are outlined in the User Agreement that you will be sent upon purchase.