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GeoWine is a wine producer company in Georgia. GeoWine agreed with GeStore, wine store in Germany on sale of
10,000 bottles of Georgian wine Khvanchkara. Parties agreed that GeoWine will first ship all goods and then, after,
GeStore receives wine, gets the payment from GeStore. If the GeStore does not pay within 1 week after receipt of the
goods, GeoWine should have right to get the payment based on bank guarantee issued by Georgian bank.
GeoWine approached you, lawyer working in international law firm, to draft the Bank Guarantee letter that GeoWine
will send to GeStore for execution.
Following are commercial terms of agreed deal that you should consider while drafting the Bank Guarantee:
Goods: 10,000 bottles of wine
Price: 50 EUR per bottle
Shipment type: shipment will be made by plane from Tbilisi International Airport to Berlin International Airport
Seller’s bank: Bank of Georgia located in Tbilisi, Georgia
Buyer’s bank: Bank of Georgia located in Tbilisi, Georgia
Applicable rules to LC: URDG 758, ICC.
Bank guarantee letter should be drafted with all of its standard requisites/parts and all information should be filled in. If
you don’t have specific information that you believe should be included, but is not provided, leave such information in
blanks. You should not provide advice and consultation. Just draft the bank guarantee as per the terms provided.
What is purpose of URDG 758 and how may it become applicable (binding) on the specific bank guarantee?