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ICC Uniform Rules for Demand Guarantees
The ICC Uniform Rules for Demand Guarantees (URDG) reflect international standard practice in the use of demand guarantees and balance the legitimate interests of all parties. More than an update of the existing rules, the revised URDG 758 is a new set of rules for the twenty-first century that has been in effect since the 1st of July 2010.
 
Since their first adoption in 1991, ICC's URDG have gained international acceptance and official recognition by bankers, traders, industry associations and international organizations including UNCITRAL, FIDIC and the World Bank. The current edition, URDG 758, was officially endorsed by the UN Commission on International Trade Law (UNCITRAL) in 2011.
 
The most significant changes in this edition are :
  • New definitions and interpretation rules for greater clarity and precision;
  • The treatment of non-documentary conditions, incomplete presentations, and many other contentious practices;
  • A comprehensive coverage of advice of guarantees, amendments, electronic documents, transfers and more;
  • A provision on force majeure that triggers an extension of a guarantee for thirty calendar days;
  • The replacement of “reasonable time” with fixed periods for the examination of demands, the extension of guarantees and the suspension of payments. PLUS - URDG 758 contains :
  • A clear layout of the examination process for demands;
  • A step-by-step roadmap for handling extend or pay demands;
  • A checklist of drafting recommendations;

ebooks: 758E ICC Uniform Rules for Demand Guarantees

€ 18,00Price
  •  Code ISBN : 978-92-842-0036-8
     Weight : 0.0800 kgs
     Number of pages : 46
     Publishing date : 2010
     Language : English
     Format in cm : 13.4*23

  • 1. Foreword
    2. Introduction

    3. Article 1 Application of URDG
    4. Article 2 Definitions
    5. Article 3 Interpretation
    6. Article 4 Issue and effectiveness
    7. Article 5 Independence of guarantee and counter-guarantee
    8. Article 6 Documents v. goods, services or performance
    9. Article 7 Non-documentary conditions
    10. Article 8 Content of instructions and guarantees
    11. Article 9 Application not taken up
    12. Article 10 Advising of guarantee or amendment
    13. Article 11 Amendments
    14. Article 12 Extent of guarantor’s liability under guarantee
    15. Article 13 Variation of amount of guarantee
    16. Article 14 Presentation
    17. Article 15 Requirements for demand
    18. Article 16 Information about demand
    19. Article 17 Partial demand and multiple demands; amount of demands
    20. Article 18 Separateness of each demand
    21. Article 19 Examination
    22. Article 20 Time for examination of demand; payment
    23. Article 21 Currency of payment
    24. Article 22 Transmission of copies of complying demand
    25. Article 23 Extend or pay
    26. Article 24 Non-complying demand, waiver and notice
    27. Article 25 Reduction and termination
    28. Article 26 Force majeure
    29. Article 27 Disclaimer on effectiveness of documents
    30. Article 28 Disclaimer on transmission and translation
    31. Article 29 Disclaimer for acts of another party
    32. Article 30 Limits on exemption from liability
    33. Article 31 Indemnity for foreign laws and usages
    34. Article 32 Liability for charges
    35. Article 33 Transfer of guarantee and assignment of proceeds
    36. Article 34 Governing law
    37. Article 35 Jurisdiction

    38. APPENDICES

    a. Form of Demand Guarantee under URDG 758
    b. Optional Clauses
    c. Form of Counter-Guarantee under URDG 758
    d. ICC Task force on Guarantees
    e. DOCDEX

    39. ICC at a Glance
    40. Some ICC Specialized Divisions
    41. Some Product for Global Business

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