Bank of America, N.A. - Moses & Singer, LLP

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URDG Article 3 – Interpretation • Branches of a guarantor in separate countries are treated as separate entities - like UCP600 • ISP98 and NYUCC treatment of branches as separate entities is broader - it is not limited to branches in separate countries (e.g., a New York Branch and a Chicago Branch of the same bank would be treated as separate entities even though both are in the U.S.) Sept. 2011 14 A U.S. Perspective On The New URDG758
URDG Article 7 – Non-documentary Conditions • Adds an exception to the ISP98, UCP600 and NYUCC rule to ignore non-documentary conditions • Exception: Do not disregard a non-documentary condition in a URDG-governed guarantee to the extent information in any required document conflicts with the non-documentary condition • A potential trap for beneficiaries and guarantors Sept. 2011 15 A U.S. Perspective On The New URDG758
Page 1 and 2: In-House Counsel CLE Program for Pr
Page 3 and 4: Presenter - Michael Evan Avidon A U
Page 5 and 6: Compared to: • “ISP98” = Inte
Page 7 and 8: Basic Letter of Credit Structure Ap
Page 9 and 10: Basic Back-to-Back Letter of Credit
Page 11 and 12: Common Features With Letters Of Cre
Page 13 and 14: URDG Article 1 - Application • Ru
Page 15: URDG Article 2 - Definition Of “D
Page 19 and 20: URDG Article 14 - Presentation •
Page 21 and 22: URDG Article 16 - Information About
Page 23 and 24: URDG Article 20 - Time For Examinat
Page 25 and 26: URDG Article 24 - Non-complying Dem
Page 27 and 28: URDG Article 26 - Force Majeure •
Page 29 and 30: URDG Article 33 - Transfer Of Guara
Page 31 and 32: URDG Article 35 - Jurisdiction •
Page 33 and 34: Volume 14, Number 8 September 2010
Page 35 and 36: FEATURE A US PERSPECTIVE ON THE NEW
Page 37 and 38: FEATURE branches of a guarantor in
Page 39 and 40: FEATURE presentation of a default s
Page 41 and 42: FEATURE to liability for delay if i
Page 43 and 44: FEATURE letter of credit for transf
Page 45 and 46: ICC unveils new rules for demand gu
Page 47 and 48: Michael Evan Avidon Partner mavidon
Page 49 and 50: Email bankinginfo@mosessinger.com W
Page 51 and 52: Real Estate Lending Drawing upon th
Page 53: Web Site www.mosessinger.com Accoun

Bank of America, N.A. - Moses & Singer, LLP

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