A warranty guarantee subject to URDG758, stipulating that Issuing Bank (the Guarantor) undertakes to pay on Ben's first written demand any amount(S) up to The Guarantee Amount provided that Ben confirm the Seller fully or partially has not fulfilled its contractual obligations.
Claim presented by Ben stating that the Seller partially has not fulfilled its contractual obligations but request to pay the full Guarantee Amount.
Question:
1. Is the demand considered a complying demand?
2. When Ben states that the Seller "partially" has not fulfilled its contractual obligations, is Ben entitled to claim the "full" Guarantee Amount? Or is he only entitled to claim a part of the Guarantee Amount corresponding to the partial failure of the Seller's performance of obligations?
3. whether Ben's statement satisfies Article 15(a) URDG 758 "a statement, by the beneficiary, indicating in what respect the applicant is in breach of its obligations under the underlying relationship
Look forward to receiving your opinions
Ms Tuyet MBBank Vietnam