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Claim Under Counter-Guarantee

Posted: Thu Oct 17, 2013 3:15 pm
by Chamnan
Dear All Experts,
I have a case related to counter-guarantor as below:
"When we got a comply demand under counter-guarantee from guarantor, how long does we take to pay to guarantor?
or 5 Working days following the day we got demand under Article 20 in URDG 2010 Revision?'
Your solution is highly appreciated.
Thanks with Best regards,

Claim under Counter-Guarantee

Posted: Tue Feb 25, 2014 5:37 pm
by Westley
I would say that unless the counter guarantee states otherwise, you have to be guided by the applicable rules, as you mentioned In this case, URDG 758. Hence I agree with you on 5 working days.

Working day vs Business day

Posted: Thu Mar 20, 2014 5:10 pm
by IJTUDU
It would be within five business days (instead of working day) following the day of presentation.