Narrow definition of guarantor's own record in URDG

With the introduction of Uniform Rules for Documentary Guarantee or URDG 758, the rules for Documentary Guarantee seem to be popular again. It can be imagined from the increasing number of questions that have popped up in recent days. Documentary Guarantee Forum is an effort to develop a platform to discuss these questions.
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CDCS2009
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Narrow definition of guarantor's own record in URDG

Post by CDCS2009 »

hi,

As per article 2 of URDG

guarantor's own records means records of the guarantor showing amounts credited to or debited from accounts held with the guarantor...

why it is defined in such a narrow sense. there could be others ways of determining from own records
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shahriar
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guarantor's own record

Post by shahriar »

dear,

that's the idea. it has been intentionally kept limited to these option. yes, there could be other possible sources but they are often hard to define specially in the rules. if the guarantor wants to allow other sources as "guarantor's own record", it may well mention that in the guarantee.
leekaiyin55
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Narrow definition of guarantor's own record in URDG

Post by leekaiyin55 »

Dear Friends

I cannot agree more of Shahriar's comments. After all, being specific rather than being ambiguous is preferred as long as every participants understand well the rules of the game. it is then fair enough!

Thank you.
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