DATE: 17th April 2012 (10:00- 18:00)
VENUE: Vilnius (Lithuania), Artis Centrum Hotels, street Liejyklos 11/23
The new URDG 758 have entered into force on 1 July 2010. The revision, the first in nearly 20 years, contains major changes to rules, which apply to billions of dollars of demand guarantees securing monetary and performance obligations in a wide array of international and domestic contracts.
The new URDG 758 do not merely update the old 458; they bring the rules for demand guarantees into the 21st century; the rules are clearer, more precise and comprehensive. Furthermore, they are innovative, featuring a number of original treatments for payment contingencies dictated by the development of practice and the need to avoid disputes.
Over the years the URDG have gained increasing worldwide acceptance by international and national lawmakers including UNCITRAL and the World Bank. Now they are destined to become the international standard for all demand guarantee practice.
Seminar will highlight all the key changes and demonstrate how a consistent use of the URDG 758 can significantly curb the rate of rejection of demands and increase the certainty of the instrument. The seminar will examine the uptake and implementation of the new rules, just over one year after its entry into force.
TARGET AUDIANCE:
• Experts in international demand guarantees;
• Trade finance operations professionals;
• Project finance specialists;
• Risk managers;
• Managers from international banks and
financial institutions;
• Import/export trading professionals;
• Executives involved in negotiating
international sales contracts;
• Lawyers, business professionals and academics.
THE SEMINAR WILL LOOK AT:
– The road to URDG 758
– Overview of the main rules: fundamental changes and key provisions
– International guarantee practice prior to URDG and subsequent to the revision
– Outlook on the chances, opportunities and challenges for both, Corporates as well as Financial
Institutions acting as (Counter-) Guarantor, Applicant or Beneficiary
– International uptake of the rules in the major economic regions and UN endorsement
PROGRAMME FURTHER INCLUDES:
– Drafting tips;
– Case Studies;
– Real life examples from the trench;
– Question and answer sessions.
GUEST SPEAKER:
Dr. Andrea HAUPTMANN
Senior Director, Head of Guarantees –
Raiffeisen Bank International AG
Member of ICC Austria and delegate to the ICC Banking Commission since 1997; founder member of the ICC Guarantee Task Force in spring 2003and elected as its Vice Chair in spring 2011; appointed as one of seven members of the Drafting Group for the revision of the URDG in 2007; Regular speaker at national and international seminars and conferences since 1991. Author of various publications/articles on bank guarantees
REGISTRATION FEES:
Until 6th February 2012 “Early bird Special”:
– 170 EUR/ 587 LTL for Lithuanian business confederation members
– 190 EUR/ 656 LTL for non-member
After 6th February 2012:
– 190 EUR/ 656 LTL for Lithuanian business confederation members
– 210 EUR/ 725 LTL for non-member
The registration fee includes seminar documentation, lunch and coffee breaks.
All participants will receive a certificate of attendance.
Please fill in the registration form and sent it back to austeja@lvk.lt latest by 7th April 2012.
TRAVEL AND ACCOMMODATION
Participants are responsible for making their own travel arrangements and hotel reservations.
A hotel reservation form from Artis Centrum Hotels, which Lithuanian business confederation has negotiated preferential rates for single room 70 EUR/night, twin room 80 EUR/night.
Reservations of rooms with preferential rates can be booked through reservation department via e-mail: migle.sipelyte@centrumhotels.com
(making booking please do not forget to mention your participation in Lithuanian business confederation seminar)
Please note that a number of rooms reserved with this rate is limited, we recommend you to make reservations ASAP.
CONTACT PERSON:
Ms. Austėja Nainytė, Project Manager
Lithuanian Business Confederation
Email: austeja@lvk.lt, info@lvk.lt
Ph.: +370 5 212 1111, Mob.: +370 678 543 78
Fax.: +370 5 212 2621
www.lvk.lt, www.iccwbo.org
