The College of Law at the University of Baghdad discussed a master’s thesis in the private law branch of the student, Shaima Khudair Abbas, tagged (independent contractual guarantees – a comparative study), on Sunday 8/6/2023 in the model courtroom in the college.
The discussion committee consisted of Prof. Dr. Akram Fadhel Saeed, Chairman, Assistant Prof. Dr. Haifa Mazhar Falhi, Member, Dr. Nada Abdel Kazem Hussein, Member, Prof. Dr. Hussein Abdullah Abdel Reda, Member and Supervisor.
This thesis aims to form a general theory of independent guarantees, by explaining its concept by using the legislative texts in the internal civil laws, or what is contained therein in the unified international rules, and giving an idea of the general features that it shares with other guarantees, in addition to special features. It stems from its specificity, which distinguishes it from similar legal systems, especially (guarantee).
The thesis also included three chapters, the first of which dealt with the nature of the independent contractual guarantees and their distinction from the guarantee. The second chapter dealt with establishing independent contractual guarantees and their legal nature. The third chapter dealt with the effects of independent contractual guarantees.
The most important recommendations of the study, recommend that the Iraqi legislator establish a legal organization for the independent guarantees, and put a definition for them, Although the definition is not within the competence of the legislator, the independent guarantees, as a relatively modern system, must be defined in order to avoid confusion on its parties on the one hand and on the authority of the courts on the other hand, The Iraqi legislator must include the organization of independent guarantees with a text that protects the independent guarantor, the bona fide natural person, from the disproportion between the amount of the guarantee and the positive elements in his financial liability when creating the guarantee by granting the judge discretion to consider this proportionality. The French legislator and the Iraqi legislator must specify a period of Not more than five working days in which the independent guarantor is obligated to implement, calculated from the time of the valid claim.
