Template:Demand guarantee description: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "A demand guarantee is a guarantee that the guarantor must honour upon the beneficiary's demand. The beneficiary is not required to first make a claim or take a..." |
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A [[demand guarantee]] is a [[guarantee]] that the [[guarantor]] must honour upon the [[beneficiary]] | A [[demand guarantee]] is a [[guarantee]] that the [[guarantor]] must honour upon the [[beneficiary]]’s demand. The beneficiary is not required to first make a claim or take any action against the obligor of the obligation that the guarantee supports. A demand guarantee is enforceable notwithstanding any deficiencies in the enforceability of the underlying obligation. | ||
Latest revision as of 15:28, 6 September 2016
A demand guarantee is a guarantee that the guarantor must honour upon the beneficiary’s demand. The beneficiary is not required to first make a claim or take any action against the obligor of the obligation that the guarantee supports. A demand guarantee is enforceable notwithstanding any deficiencies in the enforceability of the underlying obligation.