Product coverage
Every guarantee and standby instrument with its rule set, parties, operational risks and the workflow used to process it.
Demand Guarantee
URDG 758 · local law
Independent undertaking payable on complying demand: bid, performance, advance payment, warranty, payment.
Standby Letter of Credit
ISP 98 · URDG 758 (where incorporated)
Standby credit used as a payment or performance backstop, dominant in US-facing and multi-jurisdiction contracts.
Bid / Tender Guarantee
URDG 758 · tender rules
Short-tenor guarantee securing the tenderer's obligation to sign and to provide the performance guarantee.
Performance Guarantee
Secures contractual performance, typically 5–10% of contract value, often stepped down at provisional acceptance.
Advance Payment Guarantee
URDG 758
Repays the advance if the supplier fails to perform; amount amortises against certified deliveries.
Warranty / Retention Guarantee
Covers the defects-liability period, or releases retention money held by the employer.
Counter-Guarantee / Counter-Standby
URDG 758 art. 5 · ISP 98
Issued to a local bank so that it issues the local instrument in favour of a domestic beneficiary.
Surety Bond (non-bank)
Local insurance law · accessory regime
Insurance-issued surety (póliza de caución, seguro garantia, fianza) accepted in Latin America and parts of Europe.
Instrument-level knowledge objects
URDG 758 · local mandatory law · ISP 98 when issued as a standby
Independent undertaking securing the contractor's performance of an underlying supply, works or service contract, payable on complying demand.
URDG 758 · reduction and effectiveness clauses
Secures repayment of an advance paid by the buyer, normally reducing as deliveries are certified and effective only on receipt of the advance.
Boleta de Garantía
Peruvian banking law · state procurement regulation (OSCE) · URDG rarely incorporated
Peruvian bank guarantee issued on the bank's own local format: irrevocable, unconditional, of automatic realisation (realización automática) and payable within local legal deadlines.
Póliza de Caución
Local insurance law · policy terms · no URDG 758
Surety policy issued by an insurance company, not a bank. Accepted by many Latin American beneficiaries but not a bank undertaking and not governed by URDG.