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Garanzie bancarie nel Commercio internazionale e Stand-by

In international trade, most contracts ("simple" contracts for the purchase and sale of goods/services or more complex contracts such as procurement and/or major works) give rise to a series of obligations that each party assumes towards the other: hence the bank guarantees as remedies to cover the non-fulfilment and/or satisfaction of the interest of one of the contractual parties.

 

This has led to the development of autonomous first demand guarantees, with respect to the underlying contract, aimed at hedging the risks deriving from commercial transactions, and generally issued, by credit institutions in favour of beneficiaries at the request of their customers.

This type of bank guarantee represents a commitment, assumed by a bank, to perform a financial service in favour of a beneficiary, in the event that the applicant for the issuance of the guarantee does not fulfil its contractual obligations envisaged and referred to in the guarantee itself. This in fact has the purpose of keeping the creditor harmless, unlike the guarantor.

Advice on bank guarantees and stand-by includes:

Answers and technical opinions on autonomous guarantees on first demand, on sureties and Stand-by letters of credit and on direct and indirect guarantees (counter-guarantees).

The examination of the warranty and stand-by texts highlights the critical issues, the points of attention and any changes in light of the rules to which they are subject.

Assistance in issuing bid bonds, performance bonds, advance payment bonds, warranty bonds, payment bonds, and Stand-by letters of credit.

The analysis of the elements to be evaluated and the attention to be paid in first demand guarantees, with particular reference to advance, performance and payment bonds.

Technical appraisals and judicial and extrajudicial assistance in disputes relating to international guarantees and the Stand-by Letter of credit.

The formulation and structuring of the guarantee and stand-by texts are to be provided for in contracts abroad and in Italy.

Assistance in the choice and adoption of Guarantees on request with respect to the Stand-by Letter of credit (the US guarantees).

Support in the evaluation and effective application of the rules governing the guarantee issued: national ones, those of the foreign country and the Uniform Rules on Guarantees on request (URDG 758) of the International Chamber of Commerce.

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