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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Sabrina
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by Sabrina » Sun Sep 16, 2012 10:39 am
Is it possible to confirm guarantees subject to URDG758?
Comments Appreciated !
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picant
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by picant » Sun Sep 16, 2012 11:52 am
Hi Pal,
I dare say that the confirmation of a guarantee is when a bank issues its own undertaking backed by the counterguarantee of another bank.
Other comments appreciated
Ciao
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aemrek
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by aemrek » Sun Sep 16, 2012 10:54 pm
I have just read somewhere URDG allows counterguarantee.
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Sabrina
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by Sabrina » Fri Sep 21, 2012 10:18 pm
Thanks all, counter guarantee is probably misunderstood as confirmation.
