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What is a demand guarantee?
A demand guarantee is an irrevocable undertaking issued by the guarantor to pay the beneficiary a sum of money up to the maximum amount of
the guarantee, upon presentation by the beneficiary of a demand in documentary form that complies with the terms of the guarantee.
重点：
- 见索即付保函的形式：A demand guarantee must be in writing, either in paper form or in electronic form.
- 见索即付保函的指示：The guarantor will issue the demand guarantee only on the instructions of the applicant or instructing party.
- 见索即付保函的独立性：A principal feature of a demand guarantee is that it is independent of the underlying relationship between the applicant and the beneficiary.
- 见索即付保函的付款责任：The obligation of the guarantor to pay the beneficiary does not arise on the occurrence of an external event. The guarantor must pay if the beneficiary makes a demand that complies with the terms of the guarantee.