URDG 758 Article 4(a)

LC & Guarantee Issuance: Under or Out of Control?

Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.

ISDGP and Advising Banks: For a Flexible, Pragmatic Interpretation of Control on Behalf of the Issuer

On 31 March, 2021, the long-awaited International Standard Demand Guarantee Practice (ISDGP) Publication No. 814E, a complement to URDG758

Views on ISDGP’s Interpretation of URDG 758 Article 4(a)