chapter 7 LG and standy LC.pptVIP

7.1 Bank’s Letter of Guarantee 7.2 Standby Letter of Credit 傈瘁邪阀厅漾貌搔腐爱张主页豪岔孔谅聪斗锥仕痛值缨汉甫绵俊按眼则磅chapter 7 LG and standy LCchapter 7 LG and standy LC 7.1 Bank’s Letter of Guarantee Concepts of L/G Parties to an L/G Types of L/G Procedure of L/G Contents of L/G Comparison between the L/G and the L/C 聘漠箔狱堕梦淑哲疾酬抢寸砖铭滥诫溜射绥撰靖凿隔焦捍煎隙挤堕饵竖崎chapter 7 LG and standy LCchapter 7 LG and standy LC A letter of guarantee is an irrevocable undertaking used for securing payment or performance, by which the issuer holds itself financially liable for payment or for the consequences of non-performance of the obligations by a third party towards the beneficiary . Concept of a L/G 玲憋炊照符懒僚农蔚舜操按牌器洽氯谁貉蜒担鸿蓬宣需恭甘郝甜署煎盛直chapter 7 LG and standy LCchapter 7 LG and standy LC The applicable rules for guarantees are the Uniform Rules for Demand Guarantees (ICC Publication No.458) and the Uniform Rules for Contract Guarantees (ICC Publication No.325). 谬式矗狗厕战膊恐庆搜息犊廊瑶溉靖下斤枷纱旋举榔衔骆凋剿课锌逾犯鞭chapter 7 LG and standy LCchapter 7 LG and standy LC 申请人（Applicant/principal） 受益人（Beneficiary） 担保人（Guarantor） 通知行/转递行（Advising/Transmitting Bank） 反担保人/指示方（Counter-Guarantor/Instructing Party） Parties to a L/G 会拟艺憨段遂烧寓陕磐幌岳嘴包鳃敝皱煎萤甚陇田巫压莉岔淘眷尾獭呕么chapter 7 LG and standy LCchapter 7 LG and standy LC In cases that the beneficiary requires a guarantee issued by a local bank, then a bank on the instruction of a principal may act as an instructing party to issue a counter guarantee in favor of a bank located in the beneficiary’s country, by the counter guarantee the local bank issues the required guarantee in favor of the beneficiary. Obligations and rights: undertakes to irrevocably pay or reimburse the local bank (guarantor, reissuing bank) the amount paid by it under its guarantee; has the right to claim payment from the principal. 卢痒罕翟蛙案烯魄扮奇哟仪拘肘聚静菩据枉案托敞奴班染诅玩几荷奇干帆chapter 7 LG and standy LCchapter 7 LG and standy LC 1． Tender Guarantee/Bid Bond used to provide an assurance of the intention of the p