ICC UNIFORM RULES FOR DEMAND GUARANTEES URDG 758 PDF

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JavaScript seems to be disabled in your browser. For the best experience on our site, be sure to turn on Javascript in your browser. More than an update of the existing rules, the revised URDG is a new set of rules for the twenty-first century that has been in effect since the 1st of July 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. Article 7 Non-documentary conditions Article 8 Content of instructions and guarantees Article 9 Application not taken up Article 10 Advising of guarantee or amendment Article 11 Amendments Article 13 Variation of amount of guarantee Article 14 Presentation Article 15 Requirements for demand Article 16 Information about demand Article 17 Partial demand and multiple demands; amount of demands Article 18 Separateness of each demand Article 19 Examination Article 20 Time for examination of demand; payment Article 21 Currency of payment Article 22 Transmission of copies of complying demand Article 23 Extend or pay Article 24 Non-complying demand, waiver and notice Article 25 Reduction and termination Article 26 Force majeure Article 27 Disclaimer on effectiveness of documents Article 28 Disclaimer on transmission and translation Article 29 Disclaimer for acts of another party Article 30 Limits on exemption from liability Article 31 Indemnity for foreign laws and usages Article 32 Liability for charges Article 33 Transfer of guarantee and assignment of proceeds Article 34 Governing law Article 35 Jurisdiction.

Optional Clauses c. ICC Task force on Guarantees e. ICC at a Glance Some Product for Global Business. Creating an account has many benefits: check out faster, keep more than one address, track orders and more.

Create an Account. Share on : linkedin twitter facebook. Secure payment Quick delivery. Add to Basket. You need help, more information or a quote? Help Centre. Description Details Table of content Authors. PLUS - URDG 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; Ready-to-use model forms.

Foreword 2. Introduction 3. Article 35 Jurisdiction Read more. Customers who bought this product also bought. Price :. Introduction to Documentary Credits. Forgot Your Password? New Customers Creating an account has many benefits: check out faster, keep more than one address, track orders and more.

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Uniform Rules for Demand Guarantees (URDG)

JavaScript seems to be disabled in your browser. For the best experience on our site, be sure to turn on Javascript in your browser. More than an update of the existing rules, the revised URDG is a new set of rules for the twenty-first century that has been in effect since the 1st of July Article 2 Definitions 5.

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Uniform Rules for Demand Guarantees URDG - 2010 revision

Uniform Rules For Demand Guarantees URDG refers to a set of guidelines first adopted by the International Chamber of Commerce ICC in that sets forth generally agreed-upon rules governing securing payments and meeting performance guarantees in contracts among global trading partners. According to the ICC, many bankers, traders, and industry associations recognize and accept the URDG, as it attempts to balance the interests of all parties involved in various types of widely used international contracts. Uniform Rules For Demand Guarantees URDG covers billions of dollars of contract guarantees in a number of industries, including banking and construction. Most commonly, the URDG covers so-called demand guarantees, or specific rights or countermeasures one party can impose on another party if the second party does not perform according to contract specifications. However, the UDRG also applies to agreements requiring the decision of an arbitrator, as well as require as some contracts that involve slightly more complex agreements, such as situations dealing with the default of one of the parties. Together the ICC rules attempt to set common standards and avoid mistrust and confusion.

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