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Extend or Pay documentary requirements

Posted: Wed Oct 26, 2016 3:01 pm
by Rami
Under URDG, is the beneficiary obligated to accompany the original LG with his Extend or Pay demand even if the original text didn't require this documentary requirement?

Thanks in advance for valued feedback.


Posted: Sat Nov 05, 2016 6:46 pm
by picant
Hi Pal,

as per art 23URDG 758 under a compliant demand the presenter may ask for an extend or pay request. This is an allowance, due to external agreement between beneficiary and principal, so somebody may decide if agree or not. I think that such possibility may be presented together with compliant demand or later, before the allowed period for the guarantor to effect payment.
Other comments appreciated

Re: Extend or Pay documentary requirements

Posted: Mon Dec 03, 2018 12:54 pm
by binhls
Hi Rami,

Article 23 URDG dose not require the Ben presents a extend or pay demand accompannied by the original guarantee except for the requirement of the Guarantee text.

Hope you are well.