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Incoterms 2010 seminar series  





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ICC Uniform Rules for Demand Guarantees (URDG 758)

Price: $50.00
Out of stock
Item No.: 758
ISBN: 978-92-842-0036-8
ICC Uniform Rules for Demand Guarantees
Including Model Forms
 
Pub No. 758
Paperback
5 3/8 inches x 9 inches
2010 Edition
48 pages
 
This revision of ICC Uniform Rules for Demand Guarantees (URDG 758) creates a new set of independent guarantee rules for the twenty-first century.  The new URDG are clearer, more precise and more comprehensive than their predecessor, URDG 458.  The present revision uses language consistent with that in ICC’s universally accepted Uniform Customs and Practice for Documentary Credits (UCP 600).  It contains new provisions that practitioners will need to know:
  • New Definitions and interpretation rules to provide greater clarity and precision;
  • The solution to non-documentary conditions, asymmetrical guarantees and counter-guarantees, incomplete presentations, and many other contentious practices;
  • A comprehensive coverage of advice of guarantees, amendments, electronic documents, transfers, and other innovative aspects in guarantee practice;
  • A clear layout of the examination of demand process;
  • A step-by-step roadmap to handling extend or pay demands and force majeure; and
  • A checklist of drafting recommendations and ready-to-use model forms.
First adopted by ICC in 1991, the URDG reflect international practice in the use of demand guarantees while at the same time balancing in the most reasonable way the legitimate interests of the beneficiary, the applicant and the guarantor.  International organizations and professional federations have endorsed the URDG, lawmakers have used them as model for national statutes, and banks and businesses apply them across the world in their way to day to day guarantee business.
 

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