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Guarantee: Difference between revisions
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*Interest: with interest at such rate as beneficiary reasonably determines, from the date of demand until payment in full. | *Interest: with interest at such rate as beneficiary reasonably determines, from the date of demand until payment in full. | ||
*Suspense account: beneficiary may place amounts beneficiary pays into a suspense account pending satisfaction in full. | *Suspense account: beneficiary may place amounts beneficiary pays into a suspense account pending satisfaction in full. | ||
===Demand process== | ===Demand process=== | ||
Beneficiary may make a demand under the guarantee without having taken any steps against the obligor | Beneficiary may make a demand under the guarantee without having taken any steps against the obligor | ||
===Discharge=== | ===Discharge=== | ||