Amendment

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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Kiara
Posts: 7
Joined: Fri Jan 30, 2015 5:54 pm
First Name: Kiara
Last Name: Richardson
Organization: Banking
Filter: Two Plus Two =: 4
Location: Gibraltar

Amendment

Post by Kiara » Wed Jul 06, 2016 5:18 pm

Hi all,

Can we amend a guarantee amount and currency or should we cancel the guarantee and issue a new one?

Looking forward to hearing from you.

Thanking you in advance.
Kiara
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picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Depends on ....

Post by picant » Thu Jul 21, 2016 8:05 pm

Hi Pal,

IMHO, it depends on theRules regulating the guarantee, USDG 758 p.e., then if the guarantee is a deed or a swift message, it is better to fill a new deed to exchange against the old one....
All to be seen in total.
Ciao
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