Demand guarantee: Difference between revisions
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{{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: