Difference Between 'Issue' & 'Request' of Field 23 of MT760

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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monem
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Difference Between 'Issue' & 'Request' of Field 23 of MT760

Post by monem »

Please explain the difference between 'Issue' and 'request' of Field 23 of MT 760.

Regards,
Monem
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picant
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Joined: Wed Aug 20, 2008 1:49 pm

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Post by picant »

Hi Pal,

by indicating ISSUE, you are issing your own guarantee favouring a beneficiary. with REQUEST you are asking your correspondent to issue its own guarantee by your order,favouring a beneficiary, normally Governamental authority or companies under a specific legal request. This is called Counter-garantee too.
Other comments appreciated
Ciao
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