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UN Draft Convention on Independent Guarantees and Stand-by Letters of Credit
INTRODUCTION
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. - EFFECTIVENESS OF UNDERTAKING
Article 7. - [Issuance] [Establishment] of undertaking
Article 8. - Amendment
Article 9. - Transfer of beneficiary's right to demand payment
Article 9 bis. - Assignment of proceeds
Article 10. - Cessation of effectiveness of undertaking
Article 11. - Expiry
CHAPTER IV. - RIGHTS, OBLIGATIONS AND DEFENCES
Article 12. - Determination of rights and obligations
Article 13. - [Standard of conduct and] liability of guarantor/issuer
Article 14. Demand
Article 16. Examination of demand and accompanying documents
Article 17. - Payment or rejection of demand
Variant B
Variant C
Variant D
Article 18. - [get]
Article 19. - Improper demand
Article 20. - Set-off
CHAPTER V. - [PROVISIONAL COURT MEASURES]
Article 21. Provisional court measures
CHAPTER VI. - JURISDICTION
Article 24. - Choice of court or arbitration
Article 24 bis. - Jurisdiction of other courts
Article 25. - Determination of court jurisdiction
Article 25 bis. - Relationship to other treaty arrangements
CHAPTER VII. - CONFLICT OF LAWS
Article 26. - Choice of applicable law
Article 27. - Determination of applicable law
Metadata
SiSU Metadata, document information
Manifest
SiSU Manifest, alternative outputs etc.
UN Draft Convention on Independent Guarantees and Stand-by Letters of Credit
United Nations (UN)
copy @ Lex Mercatoria
CHAPTER VI. - JURISDICTION
Every court other than the chosen court or courts shall decline jurisdiction, except
(a) where the choice of court made by the guarantor/issuer and the beneficiary is not exclusive;
(b) where the choice of court is not made in accordance with article 24;
(c) for the purpose of provisional court measures;
(d) where a decision of the court designated in accordance with article 24 [is not capable of recognition and enforcement] [does not fulfil the conditions of recognition and enforcement in another Contracting State]; or
[(e) where the chosen court has declined to exercise jurisdiction].
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