Subjects:

Banking and Finance

The ICC Model Forms for Issuing Demand Guarantees is a companion guide to the widely commended ICC Uniform Rules for Demand Guarantees (N[degrees] 458) which were issued in 1992. The Model Forms are intended to be illustrative and educational, and their use is voluntary and not mandatory. They will be highly useful to banks issuing guarantees and to lawyers drawing up documents to accompany guarantees. The current volume provides forms for the five principal types of guarantees, as well as forms of instruction to correspondent banks for the issue of each type of guarantee against a counter-guarantee. Each Model Form is produced with an appropriate text in full containing an explanatory note. These Model Forms, drafted by experts, will serve as the standard work to illustrate how demand guarantees are used on a daily basis.