Demand guarantee: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) (Created page with "{{Demand guarantee description}}") |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{Demand guarantee description}} | {{Demand guarantee description}} | ||
{{magicwords|Demand guarantee}} | |||
Revision as of 11:59, 23 December 2015
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.
Magic wordsTM
No Demand guarantee provision would be complete without the following magical incantation: