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Hengshun Shipping Co., Ltd v. Shanghai Pudong Development Bank Co.,Ltd for Guarantee Contract Dispute

 

When a creditor applied for arbitration based on the arbitration clause of a guarantee letter issued by the guarantor, it shall be ruled that the creditor expressed his consent for arbitration by initiating the arbitration proceeding. Therefore, the creditor and the guarantor reached an agreement for arbitration and disputes relating to contracting fault liability shall be subject to arbitration.