With this global pandemic, it is recommended to encourage the use of guarantees and counter-guarantee subject to URDG 758 as it provides a balance between the interests of all the parties involved.
Your Monday morning coffee briefing from TFG. Economies around the world continue to open up in support of generating economic activities, limited by social distancing restrictions.
What is the difference between a Bank Guarantee and a Letter of Credit? Bank Guarantees and Letters of Credit (LCs) are used in trade to carry out international transactions. LCs… read more →