THE BANKS GUARANTEE UNDER THE UNIFORM INTERNATIONAL RULES
The UN Commission on International Trade Law (UNCITRAL) officially endorsed the most recent revision of the ICC Uniform Rules for Demand Guarantees (URDG N 758) at its 44th annual session in Vienna from 27 June-8 July 2011. It became effective on July 1, 2010. Jean-Guy Carrier, ICC Secretary-General said: The UNCITRAL endorsement of the ICC URDG will undoubtedly define the direction of banking practice for demand guarantees, establish international unity with regards to these practices, and alleviate any confusion and miscommunication which could arise in the completion of trade transactions” [10]. Clear, precise and comprehensive new rules aim to maintain legal risk control through the high level of certainty and predictability that they foster. The interest of financial stability of business entities and the desire to quickly collect receivables need a legal instrument for security payments which provide safety to business partners to the fullest extent and will minimize the effect of risk factors. From the number of these instruments, the bank guarantee is the most important security instrument for contemporary circulation of commodities in the world. In this work, the object and purpose of the study is to analyze the legal aspects and results when using the international banking guarantees and are based on the theoretical methodology of scientific research.
Bank Guarantees and their Representation in Bank Business Activities (Parallel Legal Presentation)
The financial instability of business entities and the growing uncertainty of collection of receivables increasingly impose the need for utilization of instruments for security payments which provide safety to business partners to the fullest extent and minimize the effect of risk factors. From the vast number of these instruments authors sort out bank guarantees as the important security instrument for contemporary circulation. This work attempts to introduce the basic characteristics of bank guarantees, their elements, the advantages for users and principals and to analyze the representation of bank guarantees in the banks of Serbia and the countries around. The objective of the research is to point out the importance of the bank guarantees and the necessity of their representation in bank business activities. The authors suggest, as a means for overcoming that state, changes in a banking business system, an active approach to clients and their constant education, which will provide them with insight into the advantages of using bank guarantees as a means of security in contemporary circulation. In this work, with the object and the goal of exploration being set, qualitative and quantitative methodology of exploration based on usage of descriptive and statistical analysis will be applied.
Nonobstetric lower genital tract injuries in rural India
To study the impact of nonobstetric genital tract injury (NOGTI) in rural India.