Demand Guarantees in International Trade explains in clear, practical terms how a demand guarantee works, the procedure involved in setting up and gaining benefit from it, and the problems which should be avoided.
Precedent documents illustrate the variations to be encountered in international commercial practice adding practicality to the text and illustrating potential drafting pitfalls
There is a thorough explanation of all aspects of demand guarantees, including sub-contracts and joint ventures; costs of issuing guarantees and unfair calling insurance; and the ways in which risks can be controlled.
Include: The source and nature of guarantees. The text of guarantees. Unfair demands (anticipating them and controlling them). Project guarantees. The cost of issuing demand guarantees. Recourse-worthiness. Corporate guarantees. The international code of practice. Grading and controlling risks. The full text of the ICC Rules of Demand Guarantees - the 458 Rules published in 1992 and the earlier 325 Rules - the ICC Uniform Rules for Contract.
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