Is there an unconditional and irrevocable letter of guarantee, and how to understand it?

The so-called unconditional and irrevocable letter of guarantee, in which the unconditional is payment on demand, and irrevocable means that the letter of guarantee has been issued, and it cannot be revoked until the letter of guarantee expires after the expiration date, or the beneficiary returns the letter of guarantee, otherwise as long as the letter of guarantee is within the validity period, the applicant or the guarantor bank cannot withdraw the letter of guarantee.

This type of guarantee is extremely risky, and the applicant must pay a deposit in full if he or she wants to apply for it.

There must be, an unconditional, irrevocable letter of guarantee, which is easy to understand in its literal sense.

This kind of guarantee, once issued, cannot be withdrawn (cannot be reversed!). ), unconditionally assume the responsibilities and obligations under the letter of guarantee.

This is a very risky guarantee. The issuer shall bear all the risks under the letter of guarantee for the guarantor with all its own rights and interests.

Summary. Hello.

Hello. Unconditional means that when the creditor makes a claim, the guarantor does not need to confirm whether the debtor is in default, and the debtor only needs to present the relevant documents (a written claim indicating the debtor's default) in accordance with the claim procedures on the letter of guarantee, and the guarantor needs to pay unconditionally after confirming that the time and amount of the claim submitted by the debtor are within the validity period of the letter of guarantee and the amount of the guarantee.

Regulations on the Implementation of the Tendering and Bidding Law of the People's Republic of China Article 35 The bidder withdraws the tender documents that have been submitted, and shall notify the tenderer in writing before the deadline for bidding. If the tenderer has received the bid deposit, it shall be returned within 5 days from the date of receipt of the bidder's written withdrawal notice. If the bidder withdraws the bid documents after the bidding deadline, the tenderer may not return the bidding deposit.

Letter of Guarantee No.: To (hereinafter referred to as the beneficiary):

In view of the fact that (hereinafter referred to as the "Guarantor") has signed a construction contract (hereinafter referred to as the "Contract") with you for the project number, the construction period is from YYYYY-MM-DD. We accept the entrustment of the guaranteed person and hereby provide the beneficiary with an irrevocable performance guarantee:

1. The maximum amount of insurance guaranteed by this guarantee is (currency) yuan (lowercase) (written by Dadou Youlu).

2. The guarantee period of this guarantee is from XX-MM-DD to YYYY-MM-DD.

3. During the guarantee period of this guarantee, we will pay the claim to the beneficiary without arguing, being picky and irrevocably until the maximum guarantee amount of this guarantee within working days after receiving the written claim notice signed and confirmed by the beneficiary, the legal representative of the project supervision company (full name: ) or its authorized agent.

4. The notice of claim shall state the reason for the claim and the method of calculating the amount of the claim, and must be delivered to us within the guarantee period of this guarantee.

5. The rights under this guarantee shall not be transferred.

6. After we provide this guarantee, if the beneficiary and the guaranteed grinder revise the contract, the original revised contract shall be sent to us for the record.

7. Upon the expiration of the guarantee period of this guarantee, or if the claim amount paid by us to the beneficiary has reached the maximum guarantee amount of this guarantee, our guarantee liability shall be exempted.

8. This guarantee shall be governed by the laws of the People's Republic of China.

9. This guarantee is based on the Chinese version, and any alteration is invalid.

Guarantor: (stamped).

The legal representative or his authorized person (signature or seal):

Date: YYYYYYYYYYYYYYYYYY

After this letter of guarantee expires, please return the original to us for cancellation).

1. Legitimate personal loan contract.

The contents of the legal personal loan contract should include:

1. Type of borrowing;

2. Currency of borrowing;

3. The purpose of the loan;

4. The amount borrowed;

5. Borrowing interest rate;

6. Loan term;

7. Repayment method;

8. Liability for breach of contract.

The legal personal loan contract format is as follows:

Legal loan contract.

Party A's ID number

Party B's ID number

Through negotiation, Party A and Party B have reached the following loan agreement:

Party B borrows RMB from Party A.

Loan term months; YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

The monthly interest rate of this paragraph shall be paid off in a lump sum on the date of the year, month and month of Party B.

The guarantor's ID number provides a guarantee for Party B, and Party B bears joint and several liability, and the scope of the guarantee is legal liability for the principal, interest and liability for breach of contract.

5. Liability for breach of contract.

If Party B and the guarantor fail to repay the principal and interest of the loan as agreed, Party A shall be paid liquidated damages.

6. This agreement is the true expression of the intention of both parties and the guarantor, and each party shall consciously perform it.

Party A, Party B, Party B, Party B's guarantor

YYYYYYYYYYYYYYYYY

If the bank advance payment guarantee does not indicate that it is revocable, then the guarantee is generally not revocable, that is, the guarantee is irrevocable.

Since it is an irrevocable letter of guarantee, it cannot be revoked, and if the beneficiary does not use the letter of guarantee during the validity period of the letter of guarantee, the letter of guarantee will automatically become invalid after the expiration date - note: it is invalid and not revoked.

The letter of guarantee is a letter of guarantee, and for convenience, the shipping company and the bank have printed a letter of guarantee in a certain format. Its functions include the delivery of goods with a letter of guarantee, the issuance of a clean bill of lading with a letter of guarantee, and the backdating of a pre-borrowed bill of lading with a letter of guarantee. In the case of delivery of goods by letter of guarantee, the consignee warrants that after receiving the bill of lading, the consignee will return the full set of original bills of lading to the shipping company, bear the responsibility for the freight and other expenses that should be paid by the consignee, and be liable for all losses arising from the withdrawal of the goods due to the failure to submit the bill of lading, and indicate that the bank and the consignee are jointly and severally liable for the content of the guarantee.

The issuance of the bill of lading with the letter of guarantee enables the shipper to settle the foreign exchange smoothly with the clean bill of lading and the loaded bill of lading. Considering the practical significance of the letter of guarantee in the maritime business and the need to protect innocent third parties, the Hamburg Rules for the first time made clear provisions on the validity of the letter of guarantee, the letter of guarantee is an agreement between the carrier and the shipper, and cannot be used against a third party, and the letter of guarantee between the carrier and the shipper is only valid if there is no intention to deceive the third party; If it is found that the third party is deliberately defrauded, the carrier shall not enjoy the limitation of liability in indemnifying the third party, and the letter of guarantee shall not be valid.

Letter of Guarantee - Nature.

1. It is independent of the counter-guarantee between the principal and the guarantor or the contract or bidding conditions between the principal and the beneficiary.

2. It is effective in accordance with the conditions specified therein, and the guarantor makes a decision on the basis of any documents specified in the letter of guarantee.

3. It is irrevocable.

After the matter of the letter of guarantee is completed, you can ask the beneficiary of the letter of guarantee to issue an application for revocation of the letter of guarantee, and you must also issue an application for revocation of the letter of guarantee, and then go to the bank to revoke the letter of guarantee, or the bank will accept it.

Whether it is voidable or not, it shall be regarded as an irrevocable guarantee.

1. Whether the letter of guarantee can be unilaterally revoked

A letter of guarantee cannot be revoked unilaterally.

If you are worried that your interests will be damaged, you can protect your rights in accordance with the law, such as requiring the debtor to provide a counter-guarantee, that is, asking the debtor to take out the property to mortgage or provide a guarantor, if once the guarantee obligation is undertaken, you can exercise the mortgage right or ask the guarantor.

The so-called "irrevocable guarantee" and "revocable guarantee" are actually not recognized by China as a term and meaning from the international market. Once the guarantee is established and valid, the guarantee liability shall be borne unless the statutory conditions for release from the guarantee are fulfilled. The guarantor cannot unilaterally revoke the guarantee, otherwise the creation of a revocable "guarantee" will not be a definite guarantee for the creditor.

Article 694 of the Civil Code: Where a creditor of a general guarantee files a lawsuit or applies for arbitration against the debtor before the expiration of the guarantee period, the statute of limitations for the guarantee debt shall be calculated from the date on which the guarantor's right to refuse to bear the guarantee liability is extinguished. If the creditor of the joint and several liability guarantee requests the guarantor to assume the guarantee liability before the expiration of the guarantee period, the statute of limitations for the guarantee debt shall be calculated from the date of the bending of the creditor's request for the guarantor to assume the guarantee liability.

2. Legal Liability for Guarantees

1) Guarantor's Liability. In a dispute over a loan contract with a general guarantee, the legal liability of the guarantor is to perform the obligation to repay the principal and interest of the loan and other expenses on behalf of the guarantor.

2) Mortgagor's Liability. In a mortgage guarantee contract dispute, if the borrower fails to perform the repayment obligation on the date determined in the effective legal document, the lender has the right to discount the collateral or auction or sell the mortgage to be repaid in priority. The mortgagor loses the ownership or right to dispose of the mortgage.

3) Liability of the pledgor. In a dispute over a pledged loan contract, if the borrower fails to perform the repayment obligation on the date determined in the effective legal document, the lender has the right to discount, auction or sell the pledged movable property, or cash or transfer the pledged rights, and the proceeds shall be repaid first. The pledgor loses the ownership or right to dispose of the pledge, or loses the property rights in creditor's rights, shareholder rights, and intellectual property rights.

In this regard, Chinese law stipulates that the letter of guarantee cannot be unilaterally revoked, and if the creditor of a general guarantee files a lawsuit or applies for arbitration against the debtor before the expiration of the guarantee period, the statute of limitations for the guarantee debt shall be calculated from the date on which the guarantor's right to refuse to bear the guarantee liability is extinguished, and the specific provisions are as above. Legal advice is welcome. Zheng is noisy.