31 March 2021, Paris
The ICC Banking Commission National Committees voted overwhelmingly to approve the International Standard Demand Guarantee Practice (ISDGP) at the ICC Banking Commission Plenary Session. The effort to approve the ISDGP was driven by Georges Affaki, Co-Chair of the ISDGP Working Group and Chairman of the ICC France Banking Commission.
The ISDGP documents global best practices for demand guarantees subject to the Uniform Rules for Demand Guarantees (URDG 758). Georges Affaki’s achievement in gaining approval for the ISDGP follows on his success in drafting the URDG, adopted in 2009.