Question: 33. A demand guarantee subject to URDG 758 required presentation of a draft and a statement of default to the effect that the applicant 'has
33. A demand guarantee subject to URDG 758 required presentation of a draft and a statement of default to the effect that the applicant 'has defaulted on its obligation under Contract A-123.' One week prior to its expiry, the guarantor received this demand from the presenting bank on behalf of the beneficiary: 'Extend the expiration of the guarantee for one year or pay us the full amount of EUR250,000 that is due.' Which of the following statements is/are correct? If the applicant requests that the guarantee be extended, the guarantor must do so The guarantor can elect not to respond to the request The guarantor may suspend payment for up to 30 calendar days The guarantor may suspend payment for up to 30 business days Do not know
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