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.
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LCTest
- Posts: 6
- Joined: Sat Mar 02, 2013 2:42 pm
- First Name: Eva
- Last Name: Leung
- Organization: RBC
- Filter: Two Plus Two =: 4
- Location: Canada
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by LCTest » Sun Sep 28, 2014 12:29 am
I have guarantee that has expired, but my bank tells me they can't cancel security until 30 days after expiry date. Can someone explain the reason for this? What if I need security to issue another one?
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picant
- Posts: 2026
- Joined: Wed Aug 20, 2008 1:49 pm
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by picant » Sat Oct 11, 2014 11:37 pm
Hi Pal,
it depends on the rules applicable, if local or internationally recognized URDG 758, ISP98 etc.
Check the wording!
Ciao
