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ICC Uniform Rules for Demand Guarantees (URDG 758)

ICC Uniform Rules for Demand Guarantees (URDG 758)
Table of Contents


Article 5 Independence of guarantee and counter-guarantee

a. A guarantee is by its nature independent of the underlying relationship and the application, and the guarantor is in no way concerned with or bound by such relationship. A reference in the guarantee to the underlying relationship for the purpose of identifying it does not change the independent nature of the guaran- tee. The undertaking of a guarantor to pay under the guarantee is not subject to claims or defences arising from any relationship other than a relationship be- tween the guarantor and the beneficiary.
Referring Principles
A project of CENTRAL, University of Cologne.