Lecture on URDG 758 set

MANILA, Philippines -  International trade expert Andrle Pavel will visit Manila to brief the business community on Oct. 20 and 21 at the Edsa Shangri-La hotel in Mandaluyong City regarding the new Uniform Rules on Demand Guarantees (URDG 758) that took effect in July last year.

These new rules that originated from the International Chamber of Commerce (ICC) is globally in force as adopted by all countries worldwide.  

It impacts on all banking, trade and business practices of all those who use demand guarantees as a financial instrument for trading of goods, import/ export, procurement, project finance and investment projects. Those who are not familiar with demand guarantees will benefit from his lecture as he walks you through step-by-step on its definition and practical usage in negotiations and actual transactions.

Many bankers are not aware of these changes. Hence, this awareness campaign of the ICC in collaboration with the Center for Global Best Practices in the Phlippines. Banks using the old out-dated rules can cause tremendous damage to their clients. The new URDG 758 is clearer, more precise and more comprehensive than its predecessor, URDG 458. For details, you may log on to www.cgbp.org or contact Manila telephones 556-8968 or 69; Cebu (032) 512-3106 & 07; Baguio (074) 423-5148.