URDG 458 was revised and replaced by URDG 758 in 2010. While URDG 458 is no longer current, it is still referenced in older contracts or legacy guarantee texts.
stands for the Uniform Rules for Demand Guarantees , published by the International Chamber of Commerce (ICC). It was the first widely accepted international set of rules for demand guarantees (e.g., bid bonds, performance guarantees, advance payment guarantees).
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URDG 458 addressed this by establishing a clear, contractual framework. Unlike Suretyship, where the guarantor's liability depends on the underlying contract, URDG guarantees are . The bank’s obligation to pay is based solely on the presentation of documents that comply with the terms of the guarantee, regardless of disputes in the main commercial contract. Key Principles of URDG 458