index in a bank guarantee

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.
Post Reply
ANGE
Posts: 17
Joined: Sun Apr 15, 2012 12:05 am
First Name: ANGE
Last Name: CUBEDDU
Organization: COMPANY
Filter: Two Plus Two =: 4
Location: FRANCE

index in a bank guarantee

Post by ANGE » Tue Oct 11, 2016 4:09 am

If a payement guarantee subject to URGD 758 contains an unit price refering to an index. Is it a non documentary condition??

Please let me have your advice

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

URDG

Post by picant » Thu Oct 13, 2016 12:57 am

Hi Pal,

art 7 stated that it possible to have an indexCiao
Other comments appreciated

ANGE
Posts: 17
Joined: Sun Apr 15, 2012 12:05 am
First Name: ANGE
Last Name: CUBEDDU
Organization: COMPANY
Filter: Two Plus Two =: 4
Location: FRANCE

Post by ANGE » Sun Oct 16, 2016 12:32 am

hI piCANT

Apparently, an index in guaratee is not a non documentary condition provided the wording of the guarantee contains a request for the guarantor to check the value of the index....

dinesh2476
Posts: 727
Joined: Sat Oct 15, 2011 12:27 pm
First Name: Dinesh Kumar
Last Name: ...
Organization: Chrome
Filter: Two Plus Two =: 4
Location: PU

index in a bank guarantee -Article 7 URDG

Post by dinesh2476 » Mon Dec 02, 2019 8:45 pm

Experts,
Please share example for the above.

Non documentary conditions:

A guarantee should not contain a condition other than a date or the lapse of a period without specifying a document to indicate compliance with that condition. If the guarantee does not specify any such document and the fulfillment of the condition cannot be determined from the guarantor’s own records or from an index specified in the guarantee, then the guarantor will deem such condition as not stated and will disregard it except for the purpose of determining whether data that may appear in a document specified in and presented under the guarantee do not conflict with data in the guarantee

Thanks & Regardds
Dinesh Kumar

Post Reply