Introduction to the NEW International Standard Demand Guarantee Practice for URDG 758 (ISDGP)

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The recently released International Standard Demand Guarantee Practice for URDG 758 (ISDGP) is a companion document to the ICC Uniform Rules for Demand Guarantees 758 (URDG). It supplements the URDG by identifying and recording international best practices in relation to the URDG rules and beyond.

Collected during over a decade of application of the URDG in thousands of transactions identified by the ICC members as international best practice in demand guarantees, the ISDGP demonstrates how the principles and content of URDG 758 should be integrated into day-to-day demand guarantee practice, as well as covers compliance with the ISDGP to avoid mishaps that may lead to unintended consequences, costly payment delays, and disputes.

This webinar is based on the latest ISDGP for URDG 758 – eBook in which the practices are classified in accordance with the successive steps of the lifecycle of a demand guarantee.

During this one-hour session, members of the ISDGP working group Christina Seierup, Vice President, Trade Finance, Danske Bank, and Andrea Hauptmann, Former Head of Guarantees Department, Raiffeisen Bank International will talk us through:

Why is there a need for ISDGP?
What is the relation between URDG and ISDGP?
How to use ISDGP in your daily business?
What is the key content of the ISDGP?

In this session, experienced and distinguished panelists will guide the audience by taking different perspectives on the ISDGP for URDG 758.

Who should attend?

General practitioners working in banks, corporates, or financial institutions in functions such as Relationship Management, Credit, Compliance, etc. but with an interest in trade finance.

Date and Venue

Date: 2 November 2021
Time: 08.00 (New York) I 13.00 (Paris) I 20.00 (Singapore)
Live Duration: 1 hour (followed by 15 minutes Q&A)
Location: ICC Academy’s Online Classroom (Zoom)

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*Singapore Time Zone

Introduction: International Standard Demand Guarantee Practice for URDG 758 (ISDGP)
Session 1: PowerPoint presentation by Andrea Hauptmann (30 minutes)
Session 2: PowerPoint presentation by Christina E. Seierup (30 minutes)
Session 3: Q&A (15 minutes)

Members of the ISDGP working group

Christina E. Seierup, Vice President, Trade Finance, Danske Bank takes up the senior Group responsibility for training and maintenance of staff product expertise and has more than 30 years of experience within Trade Finance. Member of the ICC Banking Commission since 2011 and a member of the ICC working group on ISDGP.

Andrea Hauptmann, Former Head of Guarantees Department, Raiffeisen Bank International joined Raiffeisen Bank International (former RZB) in September 1984 after a short postgraduate study in Cambridge, UK, working in the documentary department on import/ export LCs and since 1988 on bank guarantees; took over the responsibility of the guarantee business in 1991, was appointed Director in 1997 and Senior Director in 2000. • Member of ICC Austria and delegate to the ICC Banking Commission since 1997 • Founding member of the ICC Guarantee Task Force in spring 2003 • Elected Chair of the ICC Guarantee Task Force in March 2012 • Appointed as member of the Executive Committee of the ICC Banking Commission in October 2013 One of the seven-member Drafting Group for the revision of the URDG in spring 2007. A regular speaker at various national and international seminars and conferences since 1991. Author of various publications/articles on bank guarantees.

Introduction to the NEW International Standard Demand Guarantee Practice for URDG 758 (ISDGP)