Guarantee amount in the guarantee amendment

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
Gart
Posts: 41
Joined: Sat Feb 21, 2009 6:00 pm
First Name: Gart
Last Name: Gart
Organization: Finance
Filter: Two Plus Two =: 4
Contact:

Guarantee amount in the guarantee amendment

Post by Gart » Fri Jun 03, 2022 1:15 pm

Hello,

I would like to ask yourselves which new amount of the guarantee should be indicated in guarantee amendment in case the guarantee has been issued for the amount of USD 1 000, the demand for payment was honored / paid for the same amount (USD 1 000) and the applicant wants to increase guarantee amount by USD 500:
1) USD 1 500 (... increase amount of guarantee up to the amount of USD 1 500 ...)
or
2) USD 500 (... increase amount of guarantee up to the amount of USD 500) ...?

Thank you in advance for your answer.

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

Re: Guarantee amount in the guarantee amendment

Post by picant » Tue Jun 07, 2022 6:54 pm

Hi Pal,

when using Swift MT767 field 32B or 33B only the increased/decreased amount, waiting for amendment acceptance. If outside Swift you may quote the balance too.
Oher comments appreciated
Ciao

User avatar
SANUSILAMIN
Posts: 38
Joined: Mon Sep 11, 2017 2:47 pm
First Name: ALSUNOUSI
Last Name: LAMEEN
Organization: NOC, LIBYA
Filter: Two Plus Two =: 4
Location: LIBYA

Re: Guarantee amount in the guarantee amendment

Post by SANUSILAMIN » Thu Jun 09, 2022 7:47 pm

HI
You should do the amendment as follows:
filed (32):You are authorised to increase the Guarantee amount to USD 500 to be USD 1,500.00 TOTALLY .
Thanks and other comments appreciated
REGARDS

Post Reply