BANKING vol 4(1) | Commentary

24 Uniform Rules

BANKING vol 4(1) | Commentary

24 Uniform Rules

The International Chamber of Commerce has published Uniform Rules for Demand Guarantees Publication 758 (2010 Edition)1. These Rules are commonly incorporated by reference into bonds, in particular in connection with international transactions, and do not otherwise have any legal force. They include provisions for the expiry of bonds within a set period if no claim is received, provisions dealing with amendments to tenders and contracts and the mechanical aspects of the making of claims and provisions for all disputes to be referred to arbitration. It should be considered carefully in each case whether all or

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