Skip survey header

User Survey on ICC Uniform Rules for Demand Guarantees (URDG 758)

Questions for users

Please answer only those questions that are relevant to you.
 
1. In your practical experience, do you 
2. In your practical experience, do you procure or insist on bank guarantees where the underlying contract is NOT one for the sale of goods/services – and in this case, give examples of such other contracts?
3. In your practical experience, do most bank guarantees you work with (whether as applicant or beneficiary) require simply the presentation of a demand for payment or also the tender of other documents?  In the latter case, please give examples of such other documents.
4. Where you and your counter-party cannot agree about the issuer or the terms of a bank guarantee, what is normally the outcome: does the deal fail completely or are other means of security provided? In the latter case, please give examples of such other means of security.
5. If an international contract provides for a guarantee, do you use a guarantee model that refers to URDG 758?
8. Do you use the form of demand guarantee proposed in the ICC publication?
9. Do you modify the guarantee form proposed by the ICC? 
10. Do you usually accept as a guarantee, a guarantee governed by URDG 758?
11. Does your bank propose to use a guarantee governed by URDG?
12. Do you encounter objections or resistance from banks? If yes, please indicate the banks' reason(s).
13. Does your bank propose other forms of guarantee?
14. Do you encounter practical difficulties with the use of guarantees covered by URDG?
15. Do you have problems with “unfair calling” of bank guarantees? If yes, please indicate the country of the beneficiary.
16. Do you encounter difficulties with the termination of guarantees, especially in connection with indirect guarantees (i.e. guarantee issued for the benefit of a bank, which then issues a local guarantee)?
18. Was the "extend or pay" request justified based on the underlying contract or used for other purposes?
19. Are you aware of problems during presentation of the guarantee to the bank?
20. Do you encounter problems of legal procedures by which the guarantor or the applicant tries to stop payment?
22. Is there any obstacle of a legal nature in your country that prevents the use of URDG in independent guarantees and counter-guarantees or parts thereof? (For example, a law or regulation that bans independent guarantees in domestic transactions, or transactions with consumers or individuals, or a regulation that requires State-owned entities to accept only guarantees that are drafted in accordance with a specific mandatory form that does not include URDG).
0%