Image: Kevin Casper, San Jose Costa Rica, Publicdomainpictures.net
In February 2019, the Supreme People’s Court of China released Guiding Case No. 109 and five other Guiding Cases to illustrate how Chinese courts handled issues related to the country’s Belt and Road Initiative. Guiding Case No. 109 specifically shows the Supreme People’s Court’s firm adherence to legal rules and principles that protect the value of the “payment on demand” system of independent guarantees.