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United Nations Convention on Independent Guarantees and Stand-By Letters of Credit

CHAPTER I. SCOPE OF APPLICATION

Article 1. Scope of application

Article 2. Undertaking

Article 3. Independence of undertaking

Article 4. Internationality of undertaking

CHAPTER II. INTERPRETATION

Article 5. Principles of interpretation

Article 6. Definitions

CHAPTER III. FORM AND CONTENT OF UNDERTAKING

Article 7. Issuance, form and irrevocability of undertaking

Article 8. Amendment

Article 9. Transfer of beneficiary's right to demand payment

Article 10. Assignment of proceeds

Article 11. Cessation of right to demand payment

Article 12. Expiry

CHAPTER IV. RIGHTS, OBLIGATIONS AND DEFENCES

Article 13. Determination of rights and obligations

Article 14. Standard of conduct and liability of guarantor/issuer

Article 15. Demand

Article 16. Examination of demand and accompanying documents

Article 17. Payment

Article 18. Set-off

Article 19. Exception to payment obligation

CHAPTER V. PROVISIONAL COURT MEASURES

Article 20. Provisional court measures

CHAPTER VI. CONFLICT OF LAWS

Article 21. Choice of applicable law

Article 22. Determination of applicable law

CHAPTER VII. FINAL CLAUSES

Article 23. Depositary

Article 24. Signature, ratification, acceptance, approval, accession

Article 25. Application to territorial units

Article 26. Effect of declaration

Article 27. Reservations

Article 28. Entry into force

Article 29. Denunciation

[Post Provisions]

[Post Clauses (If any: Signed; Witnessed; Done; Authentic Texts; & Deposited Clauses)]

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Title:

UN Convention on Independent Guarantees and Stand-by Letters of Credit

Creator:

United Nations (UN)

Rights:

Copyright (C) 1995 United Nations (UN)

Date:

1995-12-11

Publisher:

SiSU http://www.jus.uio.no/sisu (this copy)

Topics Registered:

United Nations

finance

guarantees

convention

United Nations

finance

stand-by letters of credit

convention

finance

guarantees

convention

finance

stand-by letters of credit

convention

Subject:

independent guarantees, stand-by letters of credit

Sourcefile:

un.independent.guarantees.and.standby.letters.of.credit.convention.1995.sst

Word Count approximate:

3644

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