The guarantor’s decision to pay or refuse is based solely on the face of the documents presented (the demand) and the terms of the guarantee. The guarantor does not investigate facts about the underlying contract.
This article is for informational purposes only and does not constitute legal advice. Always consult with a qualified trade finance lawyer or your banking institution before acting on a demand guarantee. urdg 458 pdf
You might wonder: If URDG 758 (2009 revision) is the current standard, why bother downloading an URDG 458 PDF? The guarantor’s decision to pay or refuse is