Uniform guidelines for contractual guarantees

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Uniform Rules for Contract Guarantees ( ERV ), Uniform Rules for Contract Guarantees , Uniform Rules for Contract Bonds ( URCB ) include the publication of the International Chamber of Commerce published under no. 325 in 1978. They form a guideline for compliance with contracts for guarantees . Its successor is the publication Uniform Guidelines for Guarantees Payable on Demand (URDG) from 1991.

criticism

The ICC rules could be in international trade not established because the bank guarantee as a promise to pay as Usance was ignored.