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No. 1 of Fifth Group of Five Model Cases Involving the "Belt and Road" Initiative Issued by the Supreme People's Court: Specifying the Rules on the Application of Law for the Standby Letter of Credit with a Guarantee Function for the First Time and Strictly Comprehending the Standards for Determining an Independent Guarantee Fraud — China National Electric Engineering Co., Ltd. v. Manila Branch of Australia and New Zealand Banking Group Limited and Jiangsu Bank Co., Ltd. (Casse of Dispute over an Independent Guarantee Fraud)
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最高人民法院发布第五批5起涉“一带一路”建设典型案例之一：中国电力工程有限公司与澳大利亚和新西兰银行集团有限公司马尼拉分行、江苏银行股份有限公司独立保函欺诈纠纷案——首次明确具有担保功能的备用信用证的法律适用规则 严格把握独立保函欺诈认定标准
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【法宝引证码】
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- Legal document：
Judgment
- Procedural status：
Trial at First Instance
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| No. 1 of Fifth Group of Five Model Cases Involving the "Belt and Road" Initiative Issued by the Supreme People's Court: Specifying the Rules on the Application of Law for the Standby Letter of Credit with a Guarantee Function for the First Time and Strictly Comprehending the Standards for Determining an Independent Guarantee Fraud | | 最高人民法院发布第五批5起涉“一带一路”建设典型案例之一：中国电力工程有限公司与澳大利亚和新西兰银行集团有限公司马尼拉分行、江苏银行股份有限公司独立保函欺诈纠纷案 |
| — China National Electric Engineering Co., Ltd. v. Manila Branch of Australia and New Zealand Banking Group Limited and Jiangsu Bank Co., Ltd. (Casse of Dispute over an Independent Guarantee Fraud) | | ——首次明确具有担保功能的备用信用证的法律适用规则 严格把握独立保函欺诈认定标准 |
| [Basic Facts] | | 【基本案情】 |
| For the purpose of performing a construction contract within the territory of the Philippines, China National Electric Engineering Co., Ltd. (hereinafter referred to as "CNEEC") filed an application with Jiangsu Bank Co., Ltd. (hereinafter referred to as "Jiangsu Bank") for a performance standby letter of credit (performance "SBLC") in an approximate amount of USD 23 million, with D.M.Consunji. Inc. (hereinafter referred to as "Consunji Company") as the beneficiary. After Jiangsu Bank issued an irrevocable counter standby letter of credit (counter SBLC) to Manila Branch of Australia and New Zealand Banking Group Limited (hereinafter referred to as "Manila Branch of ANZ"), Manila Branch of ANZ issued an irrevocable SBLC in an approximate amount of USD 23 million, with Consunji Company as the beneficiary. During the performance of the contract, Consunji Company claimed for an approximate amount of USD 23 million from Manila Branch of ANZ, which then requested Jiangsu Bank to pay such amount. Since CNEEC only agreed to pay an approximate amount of USD 7.3 million, Jiangsu Bank paid the same amount to Manila Branch of ANZ, which then paid the same amount to Consunji Company. On May 11, 2017, Consunji Company reached a Settlement Agreement with Manila Branch of ANZ, involving the SBLC involved and another SBLC not involved in this case. Manila Branch of ANZ paid an amount of USD 6 million to Consunji Company under the Settlement Agreement. Consunji Company promised to withdraw its claim under the SBLC. Consunji Company actually returned an approximate amount of USD 7.3 million to CNEEC. Subsequently, Manila Branch of ANZ sent a lawyer's letter to Jiangsu Bank, requesting that Jiangsu Bank should pay USD 6 million under the counter SBLC and the interest thereof. CNEEC filed a lawsuit with the court, alleging that Manila branch of ANZ committed a fraud and requesting Jiangsu Bank to stop payment. | | 中国电力工程有限公司（以下简称中国电工）为履行菲律宾境内的施工合同，向江苏银行股份有限公司（以下简称江苏银行）申请开立履约备用信用证，受益人为D.M.康松吉有限公司（以下简称康松吉公司），金额约2300万美元。江苏银行向澳大利亚和新西兰银行集团有限公司马尼拉分行（以下简称澳新银行马尼拉分行）开立不可撤销的《反担保备用信用证》后，澳新银行马尼拉分行以康松吉公司为受益人开具了金额约2300万美元的不可撤销《备用信用证》。履约过程中，康松吉公司向澳新银行马尼拉分行索赔约2300万美元，澳新银行马尼拉分行请求江苏银行付款。因中国电工仅同意支付约730万美元，江苏银行遂向澳新银行马尼拉分行支付了730万美元，澳新银行马尼拉分行亦将该笔款项支付给康松吉公司。2017年5月11日，康松吉公司与澳新银行马尼拉分行达成和解，和解内容涉及案涉《备用信用证》和案外另一份《备用信用证》。澳新银行马尼拉分行根据该《和解协议》向康松吉公司支付了600万美元。康松吉公司承诺撤销其在《备用信用证》项下的索赔。康松吉公司向中国电工实际退回约730余万美元。此后，澳新银行马尼拉分行向江苏银行发送律师函，请求江苏银行支付反担保备用信用证项下600万美元款项及利息。中国电工以澳新银行马尼拉分行存在欺诈为由诉至法院，请求江苏银行止付。 |
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