CSDG考试知识点- ICC rules of independent demand guarantees and standby letters of credit

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ICC rules of independent demand guarantees and standby letters of credit

• UCP 600:Uniform Customs and Practice for Documentary Credits, 2007 Revision
  (ICC publication No. 600), generally referred to as UCP 600. The rules are not designed to be used with demand guarantees, but one might occasionally see a demand guarantee incorporating UCP 600, however, this is not recommended.
• ISP98:International Standby Practices, 1998 edition (ICC publication No. 590), generally referred to as ISP98. These rules are primarily intended for  use with standby letters of credit. They may also be used with demand guarantees, but are not appropriate for documentary credits.
• URDG 758:Uniform Rules for Demand Guarantees, 2010 revision (ICC publication
  No. 758), generally referred to as URDG 758. These rules are intended for demand guarantees, but may be used for standby letters of credit. They are not appropriate for documentary credits. 
• No rules. Although most standby letters of credit issued in international
  trade and commerce incorporate rules, usually ISP98 or UCP600, many
  demand guarantees incorporate no rules at all

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