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A parallel introduction to demand guarantees, standbys and letters of credit

  1. Definition and purposes of a demand guarantee.
  2. The structure of a demand guarantee.
  3. The legal nature of a demand guarantee.
  4. Fundamental principles of demand guarantees: the independence.
  5. Documentary character of the guarantee.
  6. Non-documentary conditions in demand guarantees.
  7. The Principle of Strict Compliance: the requirement of compliance of the demand with the terms of the guarantee
  8. Key elements in a demand guarantee.


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