Uniform Rules For Demand Guarantees - URDG
- Uniform Rules For Demand Guarantees - URDG
- A set of rules developed by the International Chamber of Commerce (ICC) and adopted in 1992. URDG provides a framework for harmonizing international trading practices and establishes agreed-upon rules for independent guarantees and counter-guarantees among trading partners. The guarantees specify uniform practices for securing payment and performance in worldwide commercial contracts.
The World Bank and the United Nations Commission on International Trade Law (UNCITRAL) have adopted the URDG into their standards for financing international trade. The ICC's publication, Uniform Rules for Demand Guarantees, is considered an authoritative guide and reflects international practice in the use of demand guarantees, while preserving the goal of the original rules – to balance the interests of the trading parties and curb abuse in the development of international trade guarantees.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Uniform Rules for Demand Guarantees — (URDG) International An international set of rules governing the rights and obligations of parties under demand guarantees produced by the International Chamber of Commerce. The current version, URDG 458, will be succeeded by a new version, URDG… … Law dictionary
URDG — Uniform Rules for Demand Guarantees (URDG) International An international set of rules governing the rights and obligations of parties under demand guarantees produced by the International Chamber of Commerce. The current version, URDG 458, will… … Law dictionary
demand guarantee — International A guarantee that imposes a primary obligation on the issuer to pay the beneficiary on its first demand for payment, where the primary obligor fails to perform the contract. The issuer s obligations are not affected by disputes over… … Law dictionary
URDG 758 — International The successor to URDG 458 which will come into force on 1 July 2010, see Uniform Rules for Demand Guarantees (URDG). Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
URDG — Einheitliche Richtlinien für auf Anfordern zahlbare Garantien (ERAG), Uniform Rules for Demand Guarantees (URDG) ist eine im Jahr 1991 in Paris von der Internationalen Handelskammer (ICC) verabschiedete Richtlinie, die das Recht von Bankgarantien … Deutsch Wikipedia
ERAG — Einheitliche Richtlinien für auf Anfordern zahlbare Garantien (ERAG), Uniform Rules for Demand Guarantees (URDG) ist eine im Jahr 1991 in Paris von der Internationalen Handelskammer (ICC) verabschiedete Richtlinie, die das Recht von Bankgarantien … Deutsch Wikipedia
Einheitliche Richtlinien für auf Anfordern zahlbare Garantien — (ERAG), Uniform Rules for Demand Guarantees (URDG) ist eine im Jahr 1991 in Paris von der Internationalen Handelskammer (ICC) verabschiedete Richtlinie, die das Recht von Bankgarantien regelt. 2009 beschloss die ICC eine überarbeitete Fassung,… … Deutsch Wikipedia
Garantie — Eine Garantie (v. frz.: garantie, v. altfränk. weren gewährleisten, sicherstellen) ist eine Zusicherung eines bestimmten Handelns in einem bestimmten Fall. Inhaltsverzeichnis 1 Garantie in der Umgangssprache 2 Garantie im Zivilrecht 2.1… … Deutsch Wikipedia
