index in a bank guarantee

ANGE · Post by **ANGE** » Tue Oct 11, 2016 4:09 am

If a payement guarantee subject to URGD 758 contains an unit price refering to an index. Is it a non documentary condition??

Please let me have your advice

picant · Post by **picant** » Thu Oct 13, 2016 12:57 am

Hi Pal,

art 7 stated that it possible to have an indexCiao
Other comments appreciated

ANGE · Post by **ANGE** » Sun Oct 16, 2016 12:32 am

hI piCANT

Apparently, an index in guaratee is not a non documentary condition provided the wording of the guarantee contains a request for the guarantor to check the value of the index....

dinesh2476 · Post by **dinesh2476** » Mon Dec 02, 2019 8:45 pm

Experts,
Please share example for the above.

Non documentary conditions:

A guarantee should not contain a condition other than a date or the lapse of a period without specifying a document to indicate compliance with that condition. If the guarantee does not specify any such document and the fulfillment of the condition cannot be determined from the guarantor’s own records or from an index specified in the guarantee, then the guarantor will deem such condition as not stated and will disregard it except for the purpose of determining whether data that may appear in a document specified in and presented under the guarantee do not conflict with data in the guarantee

Thanks & Regardds
Dinesh Kumar

index in a bank guarantee

index in a bank guarantee

URDG

index in a bank guarantee -Article 7 URDG