Contents
Part 1 An introduction to demand guarantees: history and purpose; a concise definition; typical uses of demand guarantees; guarantee structures and terminology; principal types of demand guarantee; guarantees not generated by underlying contract; the legal nature of a demand guarantee; suretyship guarantees, documentary credits and demand guarantees; standby letters of credit; key elements in a demand guarantee; distinct nature of contractual relationships; fundamental principles of demand guarantee law; amendment of guarantee; the impact of mandatory rules and public policy requirements; calling a guarantee; unilaterally imposed modifications of the guarantee period; grounds for refusal to pay. Part 2 An overview of the uniform rules for demand guarantees: background to the URDG; contractual basis of the URDG; structure of the URDG; terminology; scope of the URDG; application to counter-guarantees; autonomy and documentary character of the guarantee; instructions for issue; assignment; issue and coming into effect of the guarantee; instructions for issue must be refused when payment could not be made; amendment; liabilities and responsibilities; limits of liability and responsibility set by the rules; contractual exclusion or limitation of liability; demands; termination of a guarantee; "Extend or pay" and "pay or extend" demands; governing law and jurisdiction; conclusions. Part 3 Commentary on the uniform rules for demand guarantees: scope and application of the rules; definitions and general provisions; liabilities and responsibilities; demands; expiry provisions; governing law and jurisdiction. Appendices: the ICC uniform rules for demand guarantees; the ICC at a glance; some ICC publications.
