Reasons for Expiration of the Independent Guarantee
DOI:
https://doi.org/10.35246/0ktv1c49Keywords:
Independent Guarantee, Garantie Autonome, First Demand Guarantees, Manifest Fraud, Manifest Abuse, Independence, Surtyship, Cantonment, CautionnmentAbstract
The independent guarantee contract, in the strict sense of contracts, is a contract that the will of the parties to the security transaction in the broad sense tended to consider as an independent contract that stood on its own, and separated it from the case of dependence known as traditional guarantees. Subordination, in the sense that the nullity, dissolution, or termination of the main relationship does not entail the expiration of the independent guarantee, or that there are reasons attributed to the creditor that lead to its expiration.
It is based on this that the independent guarantee ends with the original well-known reasons for expiration or with reasons dictated by the nature of the contract itself, such as the expiry of its validity period, but the matter does not apply to its release, which is not to transgress public order, in other words, the establishment of an independent guarantee, as a guarantee of an unlawful commitment, leads to the termination of the guarantee contract accordingly expiration of the independent guarantee.
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References
The Holy Qur'an
Arabic References
First: Books
I. Dr. Elias Nassif, The Contract of Suretyship, al-halabi legal publications, first edition, lebanon, 2023.
II. Dr. Hussein Abdullah Abdul-Redha Al-Kallabi, The General Contractual System: a comparative study, al-sanhouri library, first edition, lebanon, 2016.
III. Dr. Abdul-Razzaq Ahmed Al-Sanhouri, Al-Wasit in Explaining Civil Law, volume ten (final volume) on personal and real securities, dar ihya' al-turath al-arabi, no edition stated, beirut, 2004.
IV. Dr. Ali Fawzi Ibrahim Al-Moussawi, The Contract of Suretyship, noor al-ain office, no edition stated, iraq, 2018.
V. Faiz Al-Haj Yassin, The French Civil Law in Arabic, 108th arabic edition, dalloz, 2009.
VI. Dr. Nabil Ibrahim Saad, Unnamed Securities in Private Law within the Scope of the Law of Obligations / within the Scope of Property Law, A Comparative Study, fourth edition, new university house publications, Egypt, 2017.
Second: Theses
I. Hassan Dakhel Abdul-Radhi Al-Jaifari, The Abstract Legal Obligation, PhD dissertation, faculty of law, university of karbala, 2018.
Third: Research Papers
I. Shaimaa Khudair Abbas & Dr. Hussein Abdullah Abdul-Redha, The Legal Nature of Independent Guarantees, journal of legal sciences, vol. 37, part ii.
Fourth: Legislations
I. The Lebanese Law of Obligations and Contracts of 1932.
II. The Iraqi Civil Law No. (40) of 1951.
foreign References
First: books
I. Vincent Brémond, Manuella Bourassin, Droit des sûretés, N° d'édition: 7, ISBN : 978 2 247 19780 4, 2019, Dalloz.
Second: Researches:
I. Mateo Sánchez García,Javier Quicaño Rodríguez, Las excepciones del garante frente al beneficiario en la garantía autónoma del derecho español, Revista Análisis Internacional, Número 3 • Año 2011.
Third: Laws and Regulation
I. Français Code Civil 1804.
II. Code de la Consommation Français 27 juillet 1993.
III. United Nation Convention On Independent Guarantee And Stand-By Letters Of Credit, 1995.
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