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Who may present event expiry in URDG758

Posted: Wed Jan 05, 2011 12:32 am
by CDCS2009
Article 2 of URDG758 reads,

expiry event means an event which under the terms of the guarantee results in its expiry, whether immediately or within a specified time after the event occurs, for which purpose the event is deemed to occur only:

a. when a document specified in the guarantee as indicating the occurrence of the event is presented to the guarantor, or
to my understanding that since no specific presenter is mentioned here, it could be presented by anyone including applicant


Posted: Wed Jan 05, 2011 1:03 am
by abrar
Yes, although it is likely to be the applicant.

However, the exact nature of the document, and presenter (if a party other than the applicant) would be defined in the guarantee.

Article 2 of URDG758

Posted: Thu Mar 01, 2012 1:56 pm
by leekaiyin55
This article refers to an (expiry) event which can fillful or trigger off the conditions of the expiry of the said BG. It is not talking about who should present the required documents and in what manner.
Ideally, the questions of who, how, what, when should be answered within the text of the said BG. In absence of that, the burden of proof rests on the one who proclaim the same.