The key reference for navigating the differences between the three standby & demand guarantee practice rules.This title represents the only available comparison of the three practice rules for standby letters of credit and demand guarantees. It provides a detailed step-by-step comparison of the differences and similarities resulting from the application of the three rules to the problems arising from issuing, preparing and presenting documents, examining them, and giving notice of dishonor. Enables bankers, lawyers, and corporates to assess associated risks.
What is included?
- A thorough understanding of the different standby and guarantee practice rules
- A roadmap for managing the processes of issuing such undertakings
- Explanations of how and where the processes can be the standardized
- Detailed cross referencing between ISP98, UCP600, and URDG 758
Who should read this?
- Bankers issuing independent undertakings
- Bankers utilizing ISP98, UCP600, or URDG 758 for standbys or demand guarantees
- Lawyers dealing with standbys and/or guarantees
- Corporates who who use standbys and/or guarantees
Table of Contents
- Chapter One: Independent Undertakings
- Chapter Two: Obligations of Parties to an Independent Undertaking
- Chapter Three: Timely Presentation of Documents
- Chapter Four: Examination and Compliance of Documents Presented
- Chapter Five: Honour and Dishonour