The recently released International Standard Demand Guarantee Practice for URDG 758 (ISDGP) is a companion document to the ICC Uniform Rules for Demand Guarantees 758 (URDG). It supplements the URDG by identifying and recording international best practices in relation to the URDG rules and beyond.
Collected during over a decade of application of the URDG in thousands of transactions identified by the ICC members as international best practice in demand guarantees, the ISDGP demonstrates how the principles and content of URDG 758 should be integrated into day-to-day demand guarantee practice, as well as covers compliance with the ISDGP to avoid mishaps that may lead to unintended consequences, costly payment delays, and disputes.
This webinar is based on the latest ISDGP for URDG 758 – eBook in which the practices are classified in accordance with the successive steps of the lifecycle of a demand guarantee.
During the one-hour session, members of the ISDGP working group Christina Seierup, Vice President, Trade Finance, Danske Bank, and Andrea Hauptmann, Former Head of Guarantees Department, Raiffeisen Bank International talked us through:
Why is there a need for ISDGP?
What is the relation between URDG and ISDGP?
How to use ISDGP in your daily business?
What is the key content of the ISDGP?
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