Seminar set on demand guarantees

MANILA, Philippines - Many of us who are involved in negotiations and international trade transactions, import and export, investment projects, and project finance procurement will encounter the need to use Bank Guarantees and Standby Letters of Credit. To understand this, one needs to learn the New Uniform Rules for Demand Guarantees (URDG 758) that took effect globally in July 2010. Many who are using this financial instrument including bankers and lawyers are not fully aware of these changes – which impacts on their business and clients’ well-being.

The Center for Global Best Practices, in collaboration with the International Chamber of Commerce (ICC), will hold a two-day seminar entitled, “URDG 758: New ICC Rules for Demand Guarantees.”

This one-time event will be held on Oct. 20 and 21 at the Edsa Shangri-La Hotel.

For details and a complete list of new seminars, you may log on to www.cgbp.org or contact Manila telephones 556-8968 or 69; Cebu (032) 512-3106 and 07; Baguio (074) 423-5148.

This is accredited by the Supreme Court for Mandatory Continuing Legal Education (MCLE). Lawyers attending this will earn MCLE credits.

This is also applicable to business owners doing or who want to do international trade transactions such as import and export, those handling investment project, project finance, procurement, treasurers and CFOs, and others who will need to use bank guarantees for their business transactions.

Listen to Pavel Andrle, the secretary to the Banking Commission of the ICC Czech Republic, who will present the official interpretation on how to apply the new rules in everyday guarantee practice with focus on practical usage of these instruments, new definitions and many examples to highlight right practices vs. contentious errors and common pitfalls to avoid. He will provide you with a step-by-step approach to let you understand everything you need to know about URDG 758 with clarity and precision.

This one-time event offers early bird and group discounts for attendees of three or more. Pre-registration required.