The Independent Nature of the Bank Guarantees – Selected Case Law of Georgian Courts

On 15-17 October 2018 the International Chamber of Commerce (ICC) Banking Commission Technical Meeting was held in Tbilisi, Georgia. Over 200 participants from 50 countries attended the meeting.

The major topics of discussion included: Georgia’s role as a technology hub, launch of the ICC Digital Road Map, Survey report on the legal status of electronic bills of lading, E-compatibility of ICC rules, ICC Rules for Experts.

Daduna Kokhreidze and Ketevan Kharebava, partner and associate at Nodia, Urumashvili & Partners, participated as invited guests on the ICC Banking Coammission legal committee meeting held on 16 October 2018.

Ms. Kokhreidze and Ms. Kharebava made the presentation for the members of the ICC Banking Commission Legal Committee meeting. The presentation covered overview of Georgian commercial law with a particular focus on the Georgian case law on the independent nature of the bank guarantees, as well as the overview of dispute resolution mechanisms in Georgia. The presentation was published on the website of the ICC legal committee. The slides are available at: https://www.icc-austria.org/en/Trade-Finance/ICC-BC-Legal-Committee/Publications/Guest-Presentations.htm