Standby and Demand Guarantee Practice: Understanding UCP600, ISP98, and URDG 758

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The key reference for navigating the differences between the three standby & demand guarantee practice rules.

Author: Professor James E. Byrne

Edition: 1st Edition (2014)

Type of Product: Softbound Book – 300 pages / eBook (new!)

Table of Contents | Sample Chapter

This new title from IIBLP represents the only available comparison of the three practice rules for standby letters of credit and demand guarantees. It provides a detailed step-by-step comparison of the differences and similarities resulting from the application of the three rules to the problems arising from issuing, preparing and presenting documents, examining them, and giving notice of dishonor. Enables bankers, lawyers, and corporates to assess associated risks.

See what the experts are saying:

"Any bank that issues independent undertakings, whether they call them “standby letters of credit” or “demand guarantees,” needs to understand where the UCP, the ISP, and the URDG are the same and where they differ.  Standby & Demand Guarantee Practice: Understanding UCP600, ISP98, & URDG 758 provides a road map for managing the processes of issuing such undertakings and handling drawings by explaining how and where the processes can be the standardized, regardless of the rules chosen and what they are called, and where care must be taken to address the differences.  I expect it will go far to eliminate the misunderstandings that currently exist that standby letters of credit and demand guarantees are somehow distinct instruments and to encourage people to choose the rules appropriate to the situational need."

- Buddy Baker, Vice President/Manager, Global Trade Solutions Delivery, Fifth Third Bank, Chicago, IL

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