Introduction to Guarantees - eCourse

Build a foundational understanding of demand guarantees and their importance in facilitating global trade

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By the end of this eCourse you will be able to:

Define what a bank guarantee is and the seven main types of guarantees and their key characteristics.

Identify the various parties that can issue a guarantee.

Understand the different parts of a guarantee.

Identify which law or rules should be applied to a bank guarantee and if local laws overrule URDG 758 and 458.

Identify when and how your liabilities are terminated.

Explain the three stages of a life cycle of a guarantee.

Understand the importance of using the correct terminology.

List the differences between a guarantee and a suretyship.

Understand what must happen for amendments to take place.

Describe the importance of a claim (demand) under a guarantee.


Access period

12 months


3 hours


Parent Certificate





Who should take this course?

General practitioners working in banks, corporates, or financial institutions in functions such as relationship management, credit and compliance, but with an interest in trade finance.

Animated explainer videos

This eCourse includes 18 animated videos to help you better understand core concepts

Case study

Learning is easier with practical examples and we've included a whole lesson dedicated to a case study

Study guide

A downloadable study guide will help you recap the key points offline and access additional resources



Andrea Hauptmann

Senior Director, Head of Guarantees Department, Raiffeisen Bank International

Andrea Hauptmann 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. She then took over responsibility of the guarantee business in 1991 and was appointed Director in 1997 and Senior Director in 2000. She is a member of ICC Austria and a delegate to the ICC Banking Commission since 1997. She has been the elected Chair of the ICC Guarantee Task Force since March 2012 and was appointed as member of the Executive Committee of the ICC Banking Commission in October 2013.

Introduction to Guarantees - eCourse

Only USD $150
  • 12-months access to all 9 lessons. Repeat them as many times as you want.
  • Online and interactive - learn at your own pace
  • A case study and 18 assessment questions to test your knowledge
  • 18 animated explainer videos and 1 video lecture
  • Downloadable study guide for offline reference
  • Certificate of completion


Answers to your most commonly asked questions.

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