Extend or Pay- URDG Art 23(b)
Posted: Tue Jul 10, 2012 10:07 am
Dear Experts,
Request you to throw some light on article 23(b) of URDG 758 which reads as:
"Where, following such suspension the guarantor makes a complying demand under the counter-guarantee that includes, as an alternative, a request to extend the expiry , the counter guarantor may suspend payment for a period not exceeding four calendar days less than the period during which payment of the demand under the guarantee was suspended."
Regards,
Nitin
Request you to throw some light on article 23(b) of URDG 758 which reads as:
"Where, following such suspension the guarantor makes a complying demand under the counter-guarantee that includes, as an alternative, a request to extend the expiry , the counter guarantor may suspend payment for a period not exceeding four calendar days less than the period during which payment of the demand under the guarantee was suspended."
Regards,
Nitin