M.A. Thesis:

Principles Governing Bank Guarantees

Abstract: letter of guarantees along with letter of credit are among the most important documents and tools used in the field of international trade. Bank guarantees, which are legal in nature, are one of the most important credit instruments, including commercial instruments, which have many applications in economic interactions, especially in today's economic interactions. Designed in a descriptive and analytical manner, the main purpose of this study is to examine the principles governing bank guarantees; commercial documents have other features besides being capable of being litigated, which are prominent and prominent. It has given them special importance. Abstraction, descriptive description, substitute description, formative description, subordinate description, and transferability are the most important characteristics of business documents that distinguish it from other civil professions, and in this study abstraction and independence are the most important features of warranties. Banking has been discussed and stated that in business law, the principle of commercial transaction security and the need for rapid and easy flow of capital using commercial documents requires that commercial documents, regardless of their source of origin, have validity and value. And the rights and obligations of the parties. The abstract description of bank guarantees consists of two principles: non-hearing of objections and signature independence. In the case of the principle of independence of the guarantee, the independence of the guarantee implies its abstraction from the basic contract that led to the issuance of the guarantee. In a clearer sense, however, the purpose of a warranty is to guarantee the pledgee or beneficiary against damages caused by the breach of the pledgee or the pledgee in the basic contract.

Keywords: Business documents, Letter of guarantee, abstract description, the principle of independence