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Fs Bankgarantien Urdg758 en PDF
Fs Bankgarantien Urdg758 en PDF
Guarantees (URDG)
2010 revision – ICC publication no 758
Art. 11:
Amendments
− Can only be accepted in whole; partial acceptance only is
considered as refusal
− Beneficiary may refuse until he expressly agrees or until he
makes a presentation in conformity with the amended
guarantee
UBS, Uniform Rules for Demand Guarantees (URDG). Also available in German and French. February 2016, 84139E Page 1 of 3
Art. 19: Art. 26:
Examination of a presentation Force Majeure
− Data in a document a.: Definition of “force majeure” (acts of God, riots, civil
• are examined in context with that document, the commotions, insurrections, wars, acts of terrorism or any
guarantee and the URDG causes beyond the control of the guarantor/counter-
• must not conflict with data in that document or in guarantor)
another required document or in the guarantee b.i.: If a guarantee expires at a time when presentation (Art.
− If a document is required without stipulating whether it 2) is not possible due to “force majeure”, the guarantee
must be signed and by whom to be issued or signed or its (and counter-guarantee, if any) is extended once by 30
data content, it is accepted as presented if its content calendar days.
appears to fulfil the function of the document required b.iii.: A demand (Art. 2) under a guarantee that cannot be paid
− Documents not required, but presented, will be disregarded due to “force majeure” will be paid after termination of
“force majeure”, even if the guarantee has expired in the
Art. 20a.: meantime. A respective counter-guarantee may be
Time for examination of a demand claimed within 30 calendar days after termination of
A demand (Art. 2) must be examined within 5 business days (local) “force majeure”, even if it has expired.
after presentation (Art. 2). c.i.: If a counter-guarantee expires at a time when
(ICC 458 – Art. 10 a): the guarantor has a reasonable time to examine a demand.) presentation (Art. 2) is not possible due to “force
majeure”, it is extended by 30 calendar days from the
Art. 23: date on which counter-guarantor informs guarantor
Extend or pay about the termination of “force majeure”.
a.: The guarantor may (note: but is not obliged to) suspend c.iii.: A demand (Art. 2) under a counter-guarantee that
payment for maximum of 30 calendar days after receipt cannot be paid due to “force majeure” will be paid after
of the demand (Art. 2). termination of “force majeure”, even if it has expired.
b.: In case of suspension under the guarantee, payment (ICC 458: no rules)
under the counter-guarantee may be (note: but does
not have to be) suspended, too (4 days less than under Art 31:
the guarantee). Indemnity for foreign laws and usages
(ICC 458 – Art. 26: payment to be suspended for reasonable time allowing the The instructing party (Art. 2) respectively the counter-
parties to reach a consent.)
guarantor has to indemnify the guarantor for all obligations
and responsibilities arising from foreign laws and usages.
Art. 25:
Reduction and termination Art. 32:
c.: A guarantee/counter-guarantee without expiry date and Liability for charges
expiry event (Art. 2) terminates 3 years after issuance/30 A party instructing another party to perform services under the
calendar days after termination of the guarantee. URDG is liable, amongst other, to pay the latter‘s charges, even
d.: If the expiry date falls on a non-business day, it is if they should be borne by, but cannot be collected from, the
automatically extended to the next business day. beneficiary.
UBS, Uniform Rules for Demand Guarantees (URDG). Also available in German and French. February 2016, 84139E Page 2 of 3
Art. 33: Art. 34:
Transfer of a guarantee and assignment of proceeds Governing law
a.: A guarantee is only transferable if it expressly states so. Law at the place of guarantor (guarantee) resp. counter-
b.: If transferable, the guarantor must comply with a transfer guarantor (counter-guarantee), unless otherwise provided
request only to the extent he expressly agreed to.
d.ii.: Condition for a transfer is a statement from the 1st Art. 35:
beneficiary that the 2nd beneficiary has acquired the 1st Jurisdiction
beneficiary‘s rights and obligations in the underlying Courts at the place of guarantor (guarantee) resp. counter-
relationship. guarantor (counter-guarantee), unless otherwise provided
g.i.: The right to the proceeds of a guarantee can always be
assigned.
g.ii.: Subject to provisions of the applicable law, the guarantor
is not obliged to pay to the assignee; but: as per Swiss
law, payment may not be refused.
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Trade & Export Finance
P.O. Box, 8098 Zurich
ubs.com/tef
UBS, Uniform Rules for Demand Guarantees (URDG). Also available in German and French. February 2016, 84139E Page 3 of 3