见索即付保函统一规则URDG758中英文解析Word文档格式.docx

见索即付保函统一规则URDG758中英文解析Word文档格式.docx

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ThisrevisionofICC'

sUniformRulesforDemandGuarantees（URDG）isthefirstsincetherulesweredevelopedbyICCin1991.Theoriginalrules,URDG458,gainedbroadinternationalacceptanceinrecentyearsfollowingtheirincorporationbytheWorldBankinitsguaranteeformsandtheirendorsementbyUNCITRALandleadingindustryassociations,suchasFIDIC.

Thisfirstrevisionoftheruleswasmeticulouslypreparedoveraperiodoftwoandahalfyears,andistheresultofacollectiveeffortbyanumberofICCconstituentgroups.ItwasdevelopedasajointprojectbytwoICCcommissions-theBankingCommissionandtheCommissiononCommercialLawandPractice-thereforetakingintoaccountthelegitimateexpectationsofallrelevantsectors.ICCnationalcommitteescontributedsubstantiallytothefinalproduct:

some52nationalcommitteessubmittedseveralhundredpagesofvaluablesuggestionsonsuccessivedrafts,anumberofwhichwereincorporatedintothefinaltext.

TheICCTaskForceonGuarantees,whichconsistedof40membersfrom26countries,reviewedthevariousdraftsandaddedtheirownsuggestions.TheURDGDraftingGroup,ablychairedbyDrGeorgesAffaki,metonanumberofoccasions,carefullyreviewedallcommentssubmittedbynationalcommitteesandtheTaskForceanddevelopedthefinaldraft.

Thiscollectiveefforthasbornefruit;

ithasproducedrulesthatreflectabroadconsensusamongbankers,usersandallmembersoftheguaranteecommunity.Infact,thepresentrevisionoftheURDGdoesnotmerelyupdatetheexistingrules.Itistheresultofanambitiousprojecttocreateanewsetofrulesforthetwenty-firstcenturythatisclearer,morepreciseandmorecomprehensive.Assuch,URDG758isdestinedtobecomethestandardtextfordemandguaranteesworldwide.

JeanRozwadowski

SecretaryGeneral

InternationalChamberofCommerce

January2010

Introduction

ThenewURDG758succeedURDG458.Over17yearsofpractice（1992-2009）,URDG458provedtobebothsuccessfulandreliable.Theywereusedbybanksandbusinessesacrosscontinentsandindustrysectors.URDG458wereendorsedbyinternationalorganizations,multilateralfinancialinstitutions,bankregulators,lawmakersandprofessionalfederations.IncontrasttothefailedUniformRulesforContractGuarantees（URCG325）,URDG458reflectedtherealityoftheinternationaldemandguaranteemarketandstruckthemostreasonablebalancebetweentheinterestsofallthepartiesinvolved.BychoosingtoinstructaguarantortoissueademandguaranteesubjecttoURDG,applicantsrenouncedtheirabilitytoobstructpaymentforreasonsderivedfromtheirrelationshipwiththebeneficiary.Inturn,beneficiarieswereexpectedtostateingeneralterms-butnottojustify,establishorprove-thenatureoftheapplicant'

sbreachintheperformanceoftheunderlyingrelationship.Finally,becauseademandguaranteeisanindependentundertaking,guarantorswereassuredthattheircommitmentwassubjecttoitsownterms.Theywereinsulatedfromtheperformancecontingenciesoftheunderlyingrelationship.

Theirincrementaluse,backedbythesupportofICC,enabledURDG458tomakeacriticalcontributiontowardslevellingtheplayingfieldamongdemandguaranteeissuersandusersregardlessofthelegal,economicorsocialsysteminwhichtheyoperate.

Yet,URDG458formedthefirstattemptbyICCtocodifyindependentguaranteepractice.Overtheyears,theapplicationoftheirprovisionsshedlightontheneedfordraftingadjustments,clarifications,expansionofscopeorclearcorrectionsoftheadoptedstandard.ViewsreportedtotheICCTaskForceonGuaranteesfromURDGusersworldwideprovidedthenecessarymaterialtolauncharevisionofURDG458thatboththelapseoftimeandtheevolutionofpracticemadenecessary.Therevisionwaslaunchedin2007andwasconductedundertheaegisofboththeICCBankingCommissionandtheCommissiononCommercialLawandPractice（CLP）.

TheICCTaskForceonGuarantees,thestandingexpertbodycreatedbyICCin2003tomonitorinternationalguaranteepractice,actedasaconsultativebodytoaDraftingGroupthatproducedfivecomprehensivedraftsduringthetwoandahalfyearrevisionprocess.EachdraftwassubmittedforreviewandcommentstoICCnationalcommittees.Over600setsofcommentswerereceivedfromatotalof52countriesandwerethoroughlyexamined.Thesecommentswereinstrumentalinshapingthenewrules.RegularprogressreportswerepresentedtomeetingsofeachoftheICCcommissionsconsideringtherulesandwerecomprehensivelydebated.Thismethodensuredthattherevisiontakesintoaccountviewsreceivedfromabroadcross-sectorofconcernedparties.

TheresultingURDG758wereadoptedbytheICCExecutiveBoardon3December2009,followingendorsementbythemembersofthetwosponsoringcommissions.TheywillcomeintoforceonJuly1,2010.Thenewrulesapplytoanydemandguaranteeorcounter-guaranteewhereincorporatedbyreferenceinthetext.Theycanalsoapplyastradeusageorbyimplicationfromaconsistentcourseofdealingbetweenthepartiestothedemandguaranteeorcounter-guaranteewheresoprovidedbytheapplicablelaw.

ThenewURDG758donotmerelyupdateURDG458;

theyaretheresultofanambitiousprocessthatseekstobringanewsetofrulesfordemandguaranteesintothe21stcentury,rulesthatareclearer,morepreciseandmorecomprehensive.

ClearerURDG.ThenewURDG758aimforclarity.TheyadoptthedraftingstyleofICC'

suniversallyacceptedUniformRulesforDocumentaryCredits（UCP600）bybringingtogetherthedefinitionsoftermsinonearticle.Theyalsobringamuchneededclarificationoftheprocessaccordingtowhichapresentationwillbecheckedforconformity.

MorepreciseURDG.AnumberofthestandardscontainedinURDG458leftamarginforinterpretationthatvariedaccordingtotheparticularfactsofthecase.Thiswasparticularlytruefortheterms"

reasonabletime"

and"

reasonablecare"

.ThenewURDGhaveexcludedallimprecisestandardswithanaimtofostercertaintyandpredictability.Examplesaretimedurationsfortheexaminationofademand,theextensionofaguaranteeinthecaseofforcemajeure,andthesuspensionoftheguaranteeinthecaseofanextendorpaydemand.

MorecomprehensiveURDG.ImportantpracticeswereleftoutofURDG458.Thiswasparticularlythecasefortheadviceofaguarantee,amendments,standardsforexaminationofpresentations,partial,multipleandincompletedemands,linkageofdocuments,andtransferofguarantees.Inaddition,therewasonlyfragmentarytreatmentofcounter-guarantees.Whatwasunderstandableatthetimeofthefirstattempttocodifydemandguaranteepracticecannolongerbeaccepted17yearslater.ThenewURDG758nowcoverallofthesepracticesandmakeclearthatprovisionsgoverningguaranteesapplyequallytocounter-guarantees.

BalancedURDG.ThenewURDG758endorseandbuildonthebalancedapproachthatcharacterizedURDG458.Forexample:

-Thebeneficiaryisentitledtopaymentuponpresentationofacomplyingdemandwithouttheneedfortheguarantortoseektheapplicant'

sapproval.ThenewURDGalsocorrectanunfairsituationthatwouldhaveleftthebeneficiarywithoutrecoursetotheguaranteeinthecaseofforcemajeureifitsexpirycoincidedwiththeinterruptionoftheguarantor'

sbusiness.

-Theguarantor'

sindependentroleisexpressedinstrongerandclearertermsand,moreimportantly,itisnowexpressedinexclusivelydocumentaryterms.ThenewURDGexpecttheguarantortoactdiligently.Forinstance,aguarantorisexpectedtorejectanon-complyingdemandwithinfivebusinessdaysbysendingarejectionnoticethatlistsallofthediscrepancies;

otherwise,theguarantorwillbeprecludedfromclaimingthatthedemandisnon-complyingandwillbecompelledtopay.LargelyacceptedindocumentarycreditpracticeundertheUCP,thepreclusionsanctionisnecessarytodisciplineunfairpracticesthatworktothedetrimentofthebeneficiary.

-Theapplicant'

srighttobeinformedoftheoccurrenceofthekeystagesinthelifecycleoftheguaranteeisacknowledgedinthenewrules.However,thisinformationshouldnotbeaprerequisiteforpaymentwhenacomplyingdemandispresented.

InnovativeURDG.ThenewURDG758featureanumberofinnovationsdictatedbythedevelopmentofpracticeandtheneedtoavoiddisputes.Anexampleisthenewrulethatproposesasubstitutionofcurrencieswhenpaymentinthecurrencyspecifiedintheguaranteebecomesimpossible.Anotherexampleisthenewterminationmechanismforguaranteesthatstateneitheranexpirydatenoranexpiryevent.Thissolutionisexpectedtoreducethenumberofopen-endedguaranteesthatseverelypenalizeapplicantsandareincompatiblewiththebanks'

capitalrequirements.

TheGuide.Therationale,preparatoryworkandinterpretationofeacharticleofthenewURDG758canbefoundinaseparatelyreleasedGuidetotherules（ICCPublicationNo.702）.

ThenewURDG758package.Thenewrulesareaccompaniedbyamodelguaranteeandcounter-guaranteeformfeaturedattheendofthispublication.TheyaredestinedtoevolveintoanindispensablecompaniontothenewURDG758andtheirusers.Experienceshowsthatacomprehensiveready-to-usepackagethatcombinesboththerulesandmodelformsismoreattractivetousersthanthepreviouslyseparateICCpublicationsNos.458and503.Itshouldalsobeconducivetomoreharmonizedapractice.

IndraftingthenewURDG758modelguaranteeform,aunitaryapproachwaspreferredtoonethatwoul