7. Which is NOT a correct statement?

[7~8] Below explains international bank guarantee
under URDG 758.
A. Demand guarantee is a primary, non-accessory
 obligation towards the beneficiary.
B. The guarantor remains liable even if the
 obligation of the applicant is for any reason
 extinguished.
C. The guarantor may not pay on first demand with
 making defence.
D. This can be used to insure a buyer or a seller
 from loss due to non-performance by the other
 party in a contract.

• 1 A
• 2 B
• 3 C
• 4 D