International rules

Demand guarantees are subject to a set of international rules: Uniform Rules for Demand Guarantees (URDG), ICC Publication No. 758, issued by the International Chamber of Commerce (ICC) in Paris.

The rules set forth the requirements of the parties under a guarantee. It is Danske Bank's experience, however, that these rules are not followed widely enough.

You can obtain a copy of the rules directly from the ICC.

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