Foreign companies regard independent bank guarantee letters as an important and relatively safe method to ensure contract performance and mitigate economic losses in cross-border transactions. However, they are finding that independent bank guarantee letters issued by Chinese banks are not being enforced in China.
Opinion: Fighting fraud allegations
Many foreign companies are being attacked by Chinese companies for payment under guarantee fraud claims. Peng Shen and Ying Wu explain how devising a comprehensive dispute resolution strategy is key to avoid and manage these risks
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clpstaff and clp articles