Field 40C doubts

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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dcahuenas
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Joined: Fri Aug 28, 2015 3:04 am
First Name: Dan
Last Name: C
Organization: BPSA
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Location: Spain

Field 40C doubts

Post by dcahuenas »

Hi,
About a SBLC that is gonna be issued in Switzerland by a Swiss bank in favour of a Spaniard bank in Spain, which one is the best Law and Jurisdiction if I am the Spaniard Bank?

The M760 was sent indicating the Swiss Law and Geneve Jurisdiction, but I think since we are accepting we may ask for an amendment.

Thanks for your help.
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picant
Posts: 1962
Joined: Wed Aug 20, 2008 1:49 pm

Issuing Country

Post by picant »

Hi Pal,

normally SBLC, not under UCP 600, but under URDG or ISP98 fall under the issuing party Country ' Law.
The risk is that to obtain claim you must go or act in the foreign Country, in case of dispute.
Other comments appreciated
Ciao
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