Annotated English Translation of the PRC Guarantee Provisions
This is the authoritative Annotated English translation of the recently passed Chinese Independent Guarantee Provisions. In a convenient 28-page paper leaflet, this is the only existing translation of these Provisions in the world.
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For the companion introductory video to these PRC Provisions, please click here.
The People’s Supreme Court of the People’s Republic of China issued its Independent Guarantee Provisions on 1 December 2016 governing all cases in Chinese courts involving independent guarantees. These provisions are binding in all Chinese courts, and will impact global banks not only in their dealings with China, but with any guarantees subject to Chinese law or jurisdiction.
In order to acquaint the international LC community with the changes embodied in these Provisions, the Institute has been working closely with a team of Chinese lawyers, translators, and international trade experts to produce a series of products designed to illuminate the language of the Provisions, and their potential impact on transactions. The products consist of an authoritative Annotated Translation of the Provisions into English, a 120-minute Introductory Video featuring Jin Saibo, a leading Chinese lawyer who was instrumental in the drafting and passing of these Provisions, as well as Professor James E. Byrne, director of the Institute of International Banking Law & Practice.
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