Uniform guidelines for on-demand guarantees

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Uniform Rules for Demand Guarantees ( ERAG ), Uniform Rules for Demand Guarantees ( URDG ) is a in 1991 in Paris by the International Chamber of Commerce adopted (ICC) directive that the right of bank guarantees regulates. In 2009, the ICC decided on a revised version that came into force on July 1, 2010 (ICC publication no. 758).

The set of rules is the successor to the Uniform Guidelines for Contract Guarantees adopted in 1978 , which was a more general work and had not been implemented in practice. (ICC Publication No. 325) The criticism of this predecessor was that the international guarantee business was not given sufficient attention.

literature

  • Dr. Georges Affaki: A Users's Handbook to the URDG - ICC Uniform Rules on Demand Guarantees, Paris 2001, ISBN 92-842-1294-4 , ICC Publ.Nr .: 631