Guaranteed letters of credit and bank guarantees in the share and difference plant

Document Type : Technical-Scientific

Authors

1 Olum Tahgigat University- Judge of Tehran Prosecutor's 2ndOffice Branch

2 Student of Phd in Private Law In University of Judicial Sciences -Judge of Kerman General and Revolution Prosecutor's Office

3 Student of Phd in Private Law In University of Judicial Sciences -Judge

Abstract

Guaranteeing obligations arising from commercial transactions is one of the most important issues in the field of international trade, considering the extent of this field of trade. Two important instruments with a guarantee function are guaranteed letters of credit and bank guarantees. Analyzing the principles and regulations related to each of these two mechanisms will identify the similarities and differences between the two, and as a result, it will be possible for those active in the business field to use each of them based on the specific conditions of each business transaction.These two guarantee mechanisms have many similarities and differences. In summary, the similarities of these two guarantee mechanisms can be mentioned in the nature, necessity, document-oriented, independent and pending, purpose and function, issuing by banks, and among their differences, the form and structure can be mentioned. , the regulations governing each one, approval of accreditation and... mentioned. In the following, while analyzing the existing regulations, these funds will be discussed.

Keywords

Judgment
Volume 21, Issue 107
September 2021
Pages 1-33

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History

  • Receive Date: 14 September 2021
  • Revise Date: 23 October 2021
  • Accept Date: 11 November 2019

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