Your Opinion

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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First Name: Gega CITF, CDCS
Last Name: Topadze
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Your Opinion

Post by gegeeee » Mon Feb 23, 2015 5:02 pm

Hy all,

Need your Opinion regarding one case that we have on place.

Applicant via its bank issued an BG. Actually we were an advising bank. Due to applicant's non payment, beneficiary presented claim via us to issuing bank. Issuing bank has changed its address and unfortunately beneficiary's claim has expired. Until we find out new a address, claim has expired. Also want to admit that in BG nothing was told regarding claim via swift, so advising bank sent original documents under claim requirement. What is your opinion regarding it, does beneficiary have a chance to win court, does such situation covered by URDG? Also want to add that we advising bank anyway have sent claim via swift within BG expiry as well, but i don't think it will help because such term was not considered in original BG.

Thank u in advance.

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Re: Your Opinion

Post by nesarul » Tue Jan 15, 2019 6:35 pm

I wish the guarantee is subject to ISP 98.
Unfortunately no clue from URDG 758

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Re: Your Opinion

Post by moneo » Wed Jan 16, 2019 5:19 pm

I advise you to read article 15 in URDG758 for clarification

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