Pavel Andrle is an international trainer and consultant. He is the founder of Trade Finance Consulting, s.r.o., www.tradefinanceconsulting.com. He can be reached at: pa@cmail.cz.
In the latest installment of his article series on originality of paper and electronic documents, Pavel Andrle addresses practical use of the current ICC rules and matters he believes need clarified to better facilitate use of electronic records in trade finance.
Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
URDG 758 Article 15(c) makes clear that the requirement stated in Article 15(a) always applies unless expressly excluded in the guarantee, but does ISDGP help or harm in explaining this provision?
Explore ISP98's evolution and global impact on standby LCs - 25 years on. Discover its unique features, comparisons with UCP 600 & URDG 758, and the challenges users face.
