The Guide to ICC Uniform Rules for Demand Guarantees (URDG 758) provides a clear and comprehensive commentary on the rules and the accompanying model forms.
Furthermore, it debunks the many myths about international guarantee practice in order to identify which pitfalls to avoid. Renowned guarantee experts (more than twenty years of experience in practice, research and teaching), the authors give deeper insight into the revision process leading to URDG 758, revealing the background of each policy choice and decision taken while drafting the rules.
Case studies throughout the Guide support and enliven the comprehensive analytical commentary on the rules.
Further, this publication tracks in detail the seven key stages of a guarantee’s lifecycle :
• Changing of terms
• Making a presentation
• Examining the presentation
• Making payment
• Termination of the guarantee and counter-guarantee.