uses of ISP or URDG

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berry
Posts: 329
Joined: Fri Nov 07, 2008 11:36 pm

uses of ISP or URDG

Post by berry » Fri Mar 13, 2009 11:45 am

Dear all,

everyday we issue bank guarantees. these guarantees are usually issued as per the prescribed format of the beneficiary and often includes many conditions that do not fit with ISP or URDG and we have to follow them. what are the uses of ISP or URDG then?
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jim
Posts: 91
Joined: Fri Aug 15, 2008 11:58 am

guarantee vs insurance vs indemnity

Post by jim » Fri Mar 13, 2009 3:28 pm

i have another question. how a guarantee is different from a insurance and indemnity since all of them work when a non performance occurs.
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