Narrow definition of guarantor's own record in URDG

CDCS2009 · Post by **CDCS2009** » Wed Jan 05, 2011 12:37 am

hi,

As per article 2 of URDG

guarantor's own records means records of the guarantor showing amounts credited to or debited from accounts held with the guarantor...

why it is defined in such a narrow sense. there could be others ways of determining from own records

shahriar · Post by **shahriar** » Sat Jan 15, 2011 9:18 pm

dear,

that's the idea. it has been intentionally kept limited to these option. yes, there could be other possible sources but they are often hard to define specially in the rules. if the guarantor wants to allow other sources as "guarantor's own record", it may well mention that in the guarantee.

leekaiyin55 · Post by **leekaiyin55** » Thu Mar 15, 2012 1:24 pm

Dear Friends

I cannot agree more of Shahriar's comments. After all, being specific rather than being ambiguous is preferred as long as every participants understand well the rules of the game. it is then fair enough!

Thank you.