Free Essay

Uniform Rules

In:

Submitted By Ryans
Words 1490
Pages 6
Uniform Rules for Demand Guarantees

Article 1
These Rules apply to any demand guarantee and amendment thereto which a Guarantor
(as hereinafter described) has been instructed to issue and which states that it is subject to the Uniform Rules for Demand Guarantees of the International Chamber of Commerce
(Publication N°458) and are binding on all parties thereto except as otherwise expressly stated in the Guarantee or any amendment thereto.
Article 2

a) For the purpose of these Rules, a demand guarantee (hereinafter referred to as
"Guarantee") means any guarantee, bond or other payment undertaking, however named or described, by a bank, insurance company or other body or person (hereinafter called
"the Guarantor") given in writing for the payment of money on presentation in conformity with the terms of the undertaking of a written demand for payment and such other document(s) (for example, a certificate by an architect or engineer, a judgment or an arbitral award) as may be specified in the Guarantee, such undertaking being give i) at the request or on the instructions and under the liability of a party (hereinafter called "the
Principal"); or ii) at the request or on the instructions and under the liability of a bank, insurance company or any other body or person (hereinafter "the instructing Party") acting on the instructions of a Principal
b) Guarantees by their nature are separate transactions from the contract(s) or tender conditions on which they may be based, and Guarantors are in no way concerned with or bound by such contract(s), or tender conditions, despite the inclusion of a reference to them in the Guarantee. The duty of a Guarantor under a Guarantee is to pay the sum or sums therein stated on the presentation of a written demand for payment and other documents specified in the Guarantee which appear on their face to be in accordance with the terms of the Guarantee
c) For the purpose of these Rules, "Counter-Guarantee" means any guarantee, bond or other payment undertaking of the Instructing Party, however named or described, given in writing for the payment of money to the Guarantor on presentation in conformity with the terms of the undertaking of a written demand for payment and other documents specified in the Counter-Guarantee which appear on their face to be in accordance with the terms of the Counter-Guarantee. Counter-Guarantees are by their nature separate transactions from the Guarantees to which they relate and from any underlying contract(s) or tender conditions, and Instructing Parties are in no way concerned with or bound by such
Guarantees, contract(s) or tender conditions, despite the inclusion of a reference to them in the Counter-Guarantee
d) The expressions "writing" and "written" shall include an authenticated teletransmission or tested electronic date interchange ("EDI") message equivalent thereto.
Article 3
All instructions for the issue of Guarantees and amendments thereto and Guarantees and amendments themselves should be clear and precise and should avoid excessive detail.
Accordingly, all Guarantees should stipulate: a) the Principal; b) the Beneficiary; c) the
Guarantor; d) the underlying transaction requiring the issue of the Guarantee; e) the maximum amount payable and the currency in which it is payable; f) the Expiry Date and/or Expiry Event of the Guarantee; g) the terms for demanding payment h) any provision for reduction of the guarantee amount.
Article 4
The Beneficiary's right to make a demand under a Guarantee is not assignable unless expressly stated in the Guarantee or in an amendment thereto. This Article shall not, however, affect the Beneficiary's right to assign any proceeds to which he may be, or may become, entitled under the Guarantee.
Article 5
All Guarantees and Counter-Guarantees are irrevocable unless otherwise indicated.
Article 6
A Guarantee enters into effect as from the date of its issue unless its terms expressly provide that such entry into effect is to be at a later date or is to be subject to conditions specified in the Guarantee and determinable by the Guarantor on the basis of any documents therein specified.
Article 7
a) Where a Guarantor has been given instructions for the issue of a Guarantee but the instructions are such that, if they were to be carried out, the Guarantor would by reason of law or regulation in the country of issue be unable to fulfil the terms of the Guarantee, the instructions shall not be executed and the Guarantor shall immediately inform the party who gave the Guarantor his instructions by telecommunication, or, if that is not possible, by other expeditious means, of the reasons for such inability and request appropriate instructions from that party
b) Nothing in this Article shall oblige the Guarantor to issue a Guarantee where the
Guarantor has not agreed to do so.
Article 8
A Guarantee may contain express provision for reduction by a specified or determinable amount or amounts on a specified date or dates or upon presentation to the Guarantor of the document(s) specified for this purpose in the Guarantee.
Article 9
All documents specified and presented under a Guarantee, including the demand, shall be examined by the Guarantor with reasonable care to ascertain whether or not they appear on their face to conform with the terms of the Guarantee. Where such documents do not appear so to conform or appear on their face to be inconsistent with one another, they shall be refused.
Article 10
a) A Guarantor shall have a reasonable time within which to examine a demand under a
Guarantee and to decide whether to pay or to refuse the demand.
b) If the Guarantor decides to refuse a demand, he shall immediately give notice thereof to the Beneficiary by teletransmission, or, if that is not possible, by other expeditious means.
Any documents presented under the Guarantee shall be held at the disposal of the
Beneficiary.
Article 11
Guarantors and Instructing Parties assume no liability or responsibility for the form, sufficiency, accuracy, genuineness, falsification, or legal effect of any document presented to them or for the general and/or particular statements made therein, nor for the good faith or acts or omissions of any person whomsoever.
Article 12
Guarantors and Instructing Parties assume no liability or responsibility for the consequences arising out of the delay and/or loss in transit of any messages, letters, demands or documents, or for delay, mutilation or other errors arising in the transmission of any telecommunication. Guarantors and Instructing Parties assume no liability for errors in translation or interpretation of technical terms and reserve the right to transmit
Guarantee texts or any parts thereof without translating them.
Article 13
Guarantors and Instructing Parties assume no liability or responsibility for consequences arising out of the interruption of their business by acts of God, riots, civil commotions, insurrections, wars or any other causes beyond their control or by strikes, lock-outs or industrial actions of whatever nature.
Article 14
a) Guarantors and Instructing Parties utilising the services of another party for the purpose of giving effect to the instructions of a Principal do so for the account and at the risk of that Principal.
b) Guarantors and Instructing Parties assume no liability or responsibility should the instructions they transmit not be carried out even if they have themselves taken the initiative in the choice of such other party.
c) The Principal shall be liable to indemnify the Guarantor or the Instructing Party, as the case may be, against all obligations and responsibilities imposed by foreign laws and usages. Article 15
Guarantors and Instructing Parties shall not be excluded from liability or responsibility under the terms of Articles 11, 12 and 14 above for their failure to act in good faith and with reasonable care.
Article 16
A Guarantor is liable to the Beneficiary only in accordance with the terms specified in the
Guarantee and any amendment(s) thereto and in these Rules, and up to an amount not exceeding that stated in the Guarantee and any amendment(s) thereto.
Article 17
Without prejudice to the terms of Article 10, in the event of a demand the Guarantor shall without delay so inform the Principal or, where applicable, his Instructing Party, and in that case the Instructing Party shall so inform the Principal.
Article 18
The amount payable under a Guarantee shall be reduced by the amount of any payment made by the Guarantor in satisfaction of a demand in respect thereof and, where the maximum amount payable under a Guarantee has been satisfied by payment and/or reduction, the Guarantee shall thereupon terminate whether or not the Guarantee and any amendment(s) thereto are returned.
Article 19
A demand shall be made in accordance with the terms of the Guarantee before its expiry, that is, on or before its Expiry Date and before any Expiry Event as defined in
Article 22
In particular, all documents specified in the Guarantee for the purpose of the demand, and

Similar Documents

Premium Essay

School Dress Code

...A common problem at many schools is the lack of control over what apparel the students show up in. Several schools have a regulated dress code, such as Athens Bible School. This dress code, however, has been manipulated plenty of times in the past and could be easily resolved if a simple uniform rule was put into place. Some people may not appreciate the thought of the school taking away their ability to express their originality, but it would be more beneficial for everyone in the long run. A dress code would alleviate much of the morning stress of picking out a proper outfit for school. It would also allow the teachers to no longer worry about the students’ clothing, especially since they would all be properly dressed. Lastly, a student’s...

Words: 873 - Pages: 4

Premium Essay

Should Schools Have Uniforms?

...A debate of whether students should wear uniform to school has been in process for years. Students savor the freedom of no compulsion on uniform but are unsuccessful in recognizing the abundant advantages of wearing uniform. I fervently believe that students should wear uniform to school as it promotes discipline and discourages the rise of social conflicts. An evident advantage of school uniform is that students are able to focus more on their studies. In schools where uniform is not present, students spend much of their time choosing their clothes and getting dressed. Their focus is deflected off their studies and as a result, they suffer academically. Many students have also proven to suffer mentally. A large amount of kids are uncomfortable with their bodies and feel much more comfortable and relaxed in a loose uniform. Schools without uniforms also facilitate the progression of the feeling of inequality among students. The underprivileged students are easily distinguished from the well-off ones and thus the underprivileged students start feeling inferior to the rest. This also makes them more vulnerable subjects for mockery. In sheer distress, some students might even turn to drugs and alcohol. Thus, when school uniform is present, students are relieved of all such pressures and perform better. School uniforms are also a symbol of obedience, discipline and tidiness. The school is after all a place of learning and there is no need of fancy dressing at school. Students...

Words: 438 - Pages: 2

Free Essay

Deductibility of Work Clothes

...because she is not prohibited form using the clothes in her ordinary lifestyle. Analysis: IRS Sec. 162(a) states that all expenses classified as ordinary and necessary incurred for the purpose of the trade or business are deductible. IRS Sec. 262(a) imposes a limit on Sec. 162(a) to the extent that such expenses cannot be categorized as “personal, living, or family expenses.” The dilemma in this situation is whether the expensive clothing purchased by Brittany is categorized as ordinary and necessary for business purposes or as a personal expense. In revenue ruling 70-474, the IRS updates and restates that acquisition and maintenance of uniforms are deductible in the year paid if the uniforms are required by employment and not fit for ordinary wear. The interpretation of the rule is that in order to deduct the uniform expenses taxpayers need to meet full criteria...

Words: 555 - Pages: 3

Premium Essay

Dress Code Benefits

...in the Fourteenth Amendment makes it necessary for a test which weighs state interest versus personal interest which in turn can affect the regulations of a dress code and uniform policies of a school district (Wilson 4). When schools present the dress code, they only think as the benefits, not the consequences, especially when the repercussion can deprive students from individualism. The current regulations with the dress code prohibit the freedom of expression and limit diversity (Haynes 3). As a result, the dress code lowers students’ self esteem and confidence and decision making in the community (“Should Schools Have Dress Codes?” 2). Additionally, a lack of self confidence and decision making halts progress for individuals to make certain decisions such as leading a group from an uncertain circumstance instead following rules that prohibit what to wear for a job (“Should Schools Have Dress Codes?” 2). Because of these reasons, students becoming decisive individuals in the future that will impact our democracy with their new ideas will we questionable and hazy. Furthermore, it is important to note that the students that the school prepares for is ready to become successful and independent thinkers and not just followers of some limiting factors such as dress code policies and “arbitrary rules” (Robson 3). This is because democracy is made up of free thinkers that changes the politics, economics, science, and how the world revolves. Most schools with the dress code...

Words: 1543 - Pages: 7

Premium Essay

Why Should School Uniforms Be Allowed In Schools

...Jarod Kintz once said, “Freedom is being you without anyone’s permission.” School uniforms should not be mandatory for young children. Kids in schools should have the freedom to choose their outfits. Permission from adults on what to wear. Having the freedom to choose will take a lot of pressure off the adults. Even though having school uniforms lives would be easier. Everyone would feel equal, and there would be less stress. School uniforms should not be allowed. School uniforms are not going to stop bullying, school uniforms are not going to stop judging, and school uniforms are going to be costly. Today, bullying is a main cause around schools. Bullying occurs everywhere. It does not matter what an individual is wearing, or who they are, bullying still occurs. “The judgment of the Lord are true and righteous altogether” (Lincoln 280). If the...

Words: 1054 - Pages: 5

Premium Essay

Dress Code in the Workplace

...workplace with a collective agreement governing a unionized workforce. A dress code is viewed as any other rule which management wishes to implement. It cannot be inconsistent with any provision of the Collective Agreement, it must be reasonable, it must be known to the employees and it must be enforced consistently. In assessing the reasonableness of dress codes, arbitrators balance the rights of employees and the rights of employers. Arbitrators recognize the right of the employer to require dress that is safe for the work being performed and also recognize that employers have the right to protect the image they wish to establish for their companies in order to promote their business interests. The employee also has rights which come into play, especially where the dress or appearance the employer wishes to impose on the employee has an impact beyond the work place. Therefore rules against beards, facial jewelry, tattoos and so on, are often struck down by arbitrators since such rules intrude into employees’ lives outside of work. Arbitrators have required strong business justification, and solid evidence supporting that justification, from employers to support the validity of such rules. At the other end of the spectrum, where the dress code requires a uniform supplied by the employer to be worn, there are seldom issues raised about reasonableness, unless the “uniform” puts the employee in an embarrassing position – such as overly skimpy outfits for bar attendants. While constraints...

Words: 849 - Pages: 4

Premium Essay

Uniforms

...Courtney Keys July 2, 2014 Dev Writing Uniforms Having your identity is the one thing that students should be given the opportunity to have. Yet schools are moving more towards uniforms throughout elementary through high schools. The debate over uniforms in public schools encompasses many larger issues than simply what children should wear to school. It touches on issues of school improvement, freedom of expression and gang violence. It's no wonder the debate rages on. Many schools are now requiring students to wear school uniforms. School board officials believe that uniforms are needed in public schools. School uniforms are not a negative thing to have. Yes, uniforms limit what the students have to choose to wear to school every day, but it doesn’t limit them from learning; the only reason they are in school. Student treat school as a fashion show, so eliminating that puts the students’ full focus on schoolwork. Although requiring students to wear school uniforms may violate their self-expression in some ways, a uniform are supposed to be looked upon as a positive thing, because they eliminate bullying, combine social classes and gives the school campus a professional look. First of all, school uniforms limit individuality. We are living in a world where it's important to express one's unique individuality. Clothing is a very effective way to show this. For example, if you like playing the basketball, you can show this by wearing a T-shirt with a picture of basketballs...

Words: 513 - Pages: 3

Premium Essay

School Dress Codes Cons

...fashion sense, mostly of the female student body, so it has become highly noticeably that high school policies have become stricter towards the feminine majority compared to the masculine counterpart. Some schools go as far as assigning uniforms, which completely disrespect the personality or gender of that student. Enforced by stereotypes, stigmas, and sexualization, dress codes have stripped the youth of the world their own creation towards clothing since the 90s and continue to do so in force. Articles such as “The problem with Dress Codes” by Meg Besaw publish by the Odyssey Acknowledges the hardships of clothing and how girls who shop for themselves are always trying to buy clothes that adhere to the policies of their local school. Besaw stated that “Clothes don’t always stay that way you bought them.” Although you may buy clothes that fit the standard of the code, there is always the possibility over time it gets ruined, stretched, or created to something more to their taste or sense of style. Therefore, it is never sure that all clothing will stay inside the restrictive bounds of what a school expects....

Words: 652 - Pages: 3

Premium Essay

Modified Dress Code

...It is quite peculiar for public schools to adopt the idea of a modified dress code or uniforms; but schools such as Clearwater High School are paving the way for this sudden change in dress code. In 2013, Countryside High School proposed the idea of adopting uniforms for the upcoming school year. However, this proposal was rejected my majority of all Countryside High School parents. Now for the year 2014-2015 the faculty and staff at Countryside have passed the modified dress code without the consent of its students or parents. This new modified dress code consists of: Polo’s only blue jeans, no hoodies, and no dresses. The new dress code should be withdrawn; it negatively affects students and parents, not just the staff. Also, the problems...

Words: 693 - Pages: 3

Premium Essay

Should Uniforms Be Mandatory

...School Uniform School uniforms would produce a safe and structured learning environment for students. Which is the first requirement of a good school. Students that feel safe in their environment are more apt to learn and not worry about their appearance. School uniforms in public schools are becoming increasingly popular across the nation. The public school system would benefit greatly if this policy were to be enforced. Resistance is always a problem when trying to make changes. Taking all things into account, the positive effects would be far greater than the negative effects. School uniforms should be mandatory in public schools because their use would lead to higher education, less violence, and lower cost to parents. By requiring school uniforms in public schools, education will be improved and a dress code can enforce discipline towards learning. Uniforms improve a person’s outlook toward success as students generally act the way they are dressed. With fewer distractions, students see the school as a workplace for teaching and learning. Students also have less stress in their lives because they are not in a fashion show or competition. Dress codes also lead to a change in grades and part of the change is because it would be easier for students to focus on their academics when everyone is dressed the same. School uniforms would also decrease violence in public schools. There would be less peer pressure toward trying to fit in with the in-crowd and distractions...

Words: 944 - Pages: 4

Free Essay

Dress Code

...Dress Code: To Be or Not to Be A dress code may be a hard rule to put into practice. Although it is hard to implement, studies have been done that show that schools with a dress code have better performance. Not everyone agrees a school having a dress code, which makes it hard to execute. People can argue that it is a good idea or it is a bad idea. I think it is a good idea to have some sort of a dress code, but not to the point where students have to wear the same uniform every day. Everyone wants there kid to do well in school. Studies show that the schools that have strict dress codes do better than schools that do not have dress codes. When you have a certain structured dress code, kids are less likely to worry about what they are wearing and focus more on the schooling. If you require the students to wear uniforms all of the time, the use of the same colors could possible cause depression with the kids. Instead of making them wear a uniform every day, make them wear one on certain days of the week. Variety of clothes and being able to pick what you want to wear is a fun part of school for most people. When required to wear certain uniforms, depending on what they are, the students could have better school spirit. On the other hand, they could go completely against the school for requiring them to have to wear uniforms. Someone will not like the uniform no matter how nice it is that is just the way it is. Everyone wants to show off their new clothes they...

Words: 671 - Pages: 3

Premium Essay

Dress Codes To Avoid School Uniforms

...Dress code, the thing schools hate to talk about the most. How should boys get to walk around with their underwear showing and girls can’t even show their shoulders? I mean I don’t think girls should be able to wear shirts with their stomachs showing but why is showing our shoulders such a big deal? School uniforms are a problem solver except for one thing, usually the uniforms are not that cute or fashionable, not to mention their uncomfortable. But at least with uniforms there would be a fair dress code. Girls are being punished because the boys can’t control themselves. Most girls can dress however they want and not get caught, but when other girls try to dress however they want they get caught. It’s like some girls can get a free pass!...

Words: 406 - Pages: 2

Premium Essay

Cloths

...Intro I am a student that has attended 3 schools and has always worn a school uniform, a mate has never experienced any issues with school uniforms, and have noticed a few issues that can be prevented from the use of a uniform. Uniforms, not only had they been proven to be helpful at school, but they are also helpful at home. Base Parents spend a couple hundred dollars per year on clothing just to make their children meet the latest fashion. An average shop favoured by many teenagers, such as International, sells a piece of clothing for around $40 each! Parents can really find this money useful while paying bills. Uniforms are cheap, after a mate when his primary, his parents had a lot of excess money to spend because of uniform! A typical gang trait is to have a gang name, gang color, and other characteristics, that make them diverse this makes parent spend money on clothes that children don?t need. There is a possibility of violence due to an article of clothing. If a student is dressed up similar to a member of a gang, another student who does not like that gang might plan to attack that person. In this case uniforms can protect the safety of another. Many people believe if you compare a uniform school with a non-uniform school, you?ll see that violence is much popular in the non-uniform school. As said above clothing can be quite expensive, how would one feel if their garment has been misplaced or stolen? A lot of students love to brag about their shoes, especially...

Words: 597 - Pages: 3

Free Essay

School Uniforms

...School Uniforms: What’s the Big Debate? Mar’Kisha Everett English 147 July 8, 2015 University of Phoenix, Anne Cox School Uniforms: What’s the Big Debate? A school uniform is a set of standardized clothes worn primarily for an educational institution. Mention this around many teenagers and you have just started one of the biggest debates maybe ever. But just what is it about requiring kids to wear uniforms at school that seems to get everyone in such an uproar? Freedom of expression and individuality are the top two arguments opposing school uniforms. Enforcing a uniform policy is not an attempt to ignore freedom of expression or to try and stop individuality, it is simply an idea implemented to gain discipline, safety, and professionalism. School uniforms are not just implemented to help students exceed in school alone, but is also a great preparation for the future. Even though many people disagree because of freedom speech or expression, school uniforms are a good idea because they are affordable, they can prevent bullying and violence, and prepare students for a dress code in the workplace. Growing up today is probably not the easiest thing to do. There are many obstacles that may hinder learning in school such as gang violence, abuse from students and faculty, and bullying. Many students are bullied because they don’t look like other students in the class. While enforcing uniforms won’t stop the bullying, ensuring that everyone is in...

Words: 970 - Pages: 4

Premium Essay

Dress Code Research Paper

...Everyone has their honest truth or opinion about how you should present yourself in school. I am aware of how we are expected to dress and i am understanding upon the point of trying to teach us how to be presentable in public. However, many people have a different outlook on the form of dress code. Maybe we don't want to follow the traditional way of dressing. Skirts, dresses, and shorts cannot be any higher mid-thigh. “ So we can only wear long shorts?” Wouldnt long shorts be pants, Perhaps?” All bottoms are to be worn on the waist.” Would students be punished for wearing pants above the waist?” Maybe I want to wear my pants or skirt around my chest. That's a geeky way of dressing. Nerds are usually pretty smart. So, now are you criticizing...

Words: 259 - Pages: 2