Transfer Of A BG By Advising Bank To Another Bank

oktaySONGUR · Post by **oktaySONGUR** » Fri Apr 05, 2013 7:23 pm

I received a Bank Guarantee with MT 760 Swift Message as Beneficiary and it is verified and authenticated by my Advising Bank.
I want to transfer subject Bank Guarantee to another Bank based on a financial agrement.
What is the normal practise to send a BG to another Bank, is it possible to send it by MT 760 without any Financial responsibility on their side?
I had different answers and I am confused. Please advise.
Thank you very much in advance for cooperation.

picant · Post by **picant** » Sat Apr 06, 2013 9:27 am

Hi Pal,

under which rule is rhe guarantee subjected?
However I think you dont need to domiciliate it.
Let me know
Ciao

oktaySONGUR · Post by **oktaySONGUR** » Sat Apr 06, 2013 10:42 am

URDG 758

picant · Post by **picant** » Sat Apr 06, 2013 7:45 pm

Hi Pal,

I think you just want to "place" the guarantee to the bank giving advance. It is not a transfer nor an assignment.
The guarantee if in your favour and you must undertake to present eventual demand via your bank with that bank.
URDG rule transfer and assignment but with consent of guarantor. Bank guarantee is not a letter of credit, it is working in pathological case.
Other comments appreciated
Ciao

Transfer Of A BG By Advising Bank To Another Bank

Transfer Of A BG By Advising Bank To Another Bank

Under which rule....

SUBJECT RULE OF GUARANTEE

Not a transfer