ICC unveils new rules for demand guarantees

23 March 2010

In an effort to provide greater financial security following the global recession, the  International Chamber of Commerce (ICC) on March 18 unveiled an extensively revised version of the Uniform Rules for Demand Guarantees (URDG), which will be instrumental in adopting uniform practices in trade finance. In an effort to provide greater financial security following the global recession, the  International Chamber of Commerce (ICC) on March 18 unveiled an extensively revised version of the Uniform Rules for Demand Guarantees (URDG), which will be instrumental in adopting uniform practices in trade finance.

Read here

The International Chamber of Commerce is updating the rules covering demand guarantees, which allow companies to import goods and services internationally without having to pay upfront for them. Georges Affaki from BNP Paribas CIB has analysis.

See his CNBC interview.

 

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