What is counter guarantee - Best Trade Solution
Dec 24, 2018 · Counter guarantee is a technical word to indicate the guarantee given by a bank to another bank issuing a guarantee. It happens when, by law, a foreign bank even of good or best standing, is not authorized to issue guarantee in favor of resident in a specific Country but only allowed to instruct a local bank to issue a bank guarantee on its behalf.
Claim Under Counter-Guarantee - Best Trade Solution
Mar 31, 2011 · I have a case related to counter-guarantor as below: "When we got a comply demand under counter-guarantee from guarantor, how long does we take to pay to guarantor? or 5 Working days following the day we got demand under Article 20 in URDG 2010 Revision?' Your solution is highly appreciated. Thanks with Best regards,
UN Convention On Independent Guarantees And Stand-By LC
Definitions For the purposes of this Convention and unless otherwise indicated in a provision of this Convention or required by the context: (a) "Undertaking" includes "counter-guarantee" and "confirmation of an undertaking"; (b) "Guarantor/issuer" includes "counter-guarantor" and "confirmer"; (c) "Counter-guarantee" means an undertaking given ...
Non Documentary Condition In URDG Counter Guarantee
Aug 17, 2017 · "The present counter-guarantee shall come into force on the date of issue of the guarantee by the buyer's bank". "The present counter-guarantee shall remain valid for 15 days after the date of expiry of the guarantee issued by the …
Extend or Pay- URDG Art 23(b) - Best Trade Solution
Aug 20, 2011 · Dear Experts, Request you to throw some light on article 23(b) of URDG 758 which reads as: "Where, following such suspension the guarantor makes a complying demand under the counter-guarantee that includes, as an alternative, a request to extend the expiry , the counter guarantor may suspend payment for a period not exceeding four calendar days less …
Bank to Bank charges - Best Trade Solution
Jan 30, 2015 · When Guarantor Bank charges Counter Guarantor for the issuance of a Guarantee, what is the usual payment method if the term is for example 3 years.. Quarterly payments Annual payments Full amount upon issuance i.e. % p.a. x 3 years Thanks Kiara
Is it Possible to Confirm Guarantees Subject to URDG758?
Aug 20, 2011 · With the introduction of Uniform Rules for Documentary Guarantee or URDG 758, the rules for Documentary Guarantee seem to be popular again. It can be imagined from the increasing number of questions that have popped up in recent days. Documentary Guarantee Forum is an effort to develop a platform to discuss these questions.
Counter Signature On A Insurance Document And Endorsement
Dec 25, 2008 · After the shipper has completed the necessary details regarding shipment, in order to make the certificate effective and confer validity, it is usually required to be counter-signed by the shipper in a pre-printed box on the face of the certificate. Countersigning should not be confused with endorsements.
CDCS practice test 5 - Best Trade Solution
Oct 28, 2008 · a) Indemnities can have a counter guarantee from beneficiaries bankers b) Indemnities must have a counter guarantee from beneficiaries’ bankers c) Obligations of an confirming bank are not in anyway lessened by the circumstances d) Indemnity is a matter between the issuing bank and the bank which decides to accept the indemnity i) A & D ii) A & C
Place of expiry, Availability - Best Trade Solution
50319 Posts: 2 Joined: Fri May 03, 2019 2:43 pm First Name: Kitty Last Name: Lau Organization: Banking Filter: Two Plus Two =: 4