A parallel introduction to demand guarantees, standbys and letters of credit
- Definition and purposes of a demand guarantee.
- The structure of a demand guarantee.
- The legal nature of a demand guarantee.
- Fundamental principles of demand guarantees: the independence.
- Documentary character of the guarantee.
- Non-documentary conditions in demand guarantees.
- The Principle of Strict Compliance: the requirement of compliance of the demand with the terms of the guarantee