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1、URDG 758 TheURDG758aretheUniformRulesforDemandGuarantees ‐ effective01July2010.ForewordThisrevisionofICC'sUniformRulesforDemandGuarantees(URDG)isthefirstsincetherulesweredevelopedbyICCin1991.Theoriginalrules,URDG458,gainedbroadinternationalacceptance
2、inrecentyearsfollowingtheirincorporationbytheWorldBankinitsguaranteeformsandtheirendorsementbyUNCITRALandleadingindustryassociations,suchasFIDIC.Thisfirstrevisionoftheruleswasmeticulouslypreparedoveraperiodoftwoandahalfyears,andistheresultofacollectiv
3、eeffortbyanumberofICCconstituentgroups.ItwasdevelopedasajointprojectbytwoICCcommissions ‐ theBankingCommissionandtheCommissiononCommercialLawandPractice ‐ thereforetakingintoaccountthelegitimateexpectationsofallrelevantsectors.ICCnationalcommitteescon
4、tributedsubstantiallytothefinalproduct:some52nationalcommitteessubmittedseveralhundredpagesofvaluablesuggestionsonsuccessivedrafts,anumberofwhichwereincorporatedintothefinaltext.TheICCTaskForceonGuarantees,whichconsistedof40membersfrom26countries,revi
5、ewedthevariousdraftsandaddedtheirownsuggestions.TheURDGDraftingGroup,ablychairedbyDrGeorgesAffaki,metonanumberofoccasions,carefullyreviewedallcommentssubmittedbynationalcommitteesandtheTaskForceanddevelopedthefinaldraft.Thiscollectiveefforthasbornefru
6、it;ithasproducedrulesthatreflectabroadconsensusamongbankers,usersandallmembersoftheguaranteecommunity.Infact,thepresentrevisionoftheURDGdoesnotmerelyupdatetheexistingrules.Itistheresultofanambitiousprojecttocreateanewsetofrulesforthetwenty‐firstcentur
7、ythatisclearer,morepreciseandmorecomprehensive.Assuch,URDG758isdestinedtobecomethestandardtextfordemandguaranteesworldwide.JeanRozwadowskiSecretaryGeneralInternationalChamberofCommerceJanuary20101IntroductionThenewURDG758succeedURDG458.Over17yearsofpr
8、actice(1992 ‐ 2009),URDG458provedtobebothsuccessfulandreliable.Theywereusedbybanksandbusinessesacrosscontinentsandindustrysectors.URDG458wereendorsedbyinternationalorganizations,multilateralfinancialinstitutions,bankregulators,lawmakersandprof