Through a detailed study of sequence boundaries, it is concluded that sequence stratigraphy is an independent regional and transitional stratigraphic system between local lithostratigraphy and global chronostratigraphy. Therefore, a new tripartite stratigraphic classification scheme has been proposed. By combining organically the concept of sequence boundaries with the GSSP, it is suggested that the GSSP should be chosen in a conformale portion of a related sequence boundary, and the boundary established in light of this concept is defined as the Best Natural Boundary (BNB). The definition of the BNB points out the working area and stratigraphic level for the GSSP. By referring to a case study of the Permian Guadalupian/Lopingian boundary, the concept of the BNB has been elaborated in detail, and it is proposed that the BNB of the Guadalupian and the Lopingian lies between the Mesogondolella granti Zone and the Ctarkina postbitteri Zone, which is also the sequence chronostratigraphic boundary between the Transpecos composite sequence (chronozone)and the UAA- 1 composite sequence (chronozone).