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Independent Guarantee Contracts

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Chapter Summary

This chapter contains twenty seven articles on independent guarantee contracts. Some of the articles are and the validity of independent guarantee contract, terms of an independent guarantee contract, non-transferability of the payment claim, validity duration of independent guarantee contract, exemptions for the guarantor, exceptions to independency. An independent guarantee contract refers to a contract whereby the guarantee and the obligee (beneficiary) agree that the guarantee contract shall be performed unaffected by the validity of the fundamental contract. The term of the independent guarantee contract shall commence from the effective date and end on the expiration date or the date of the occurrence of the annulment event. If the annulment event is not caused by the guarantor, the expiration date is the date when the written notice regarding the occurrence of the event arrives at the guarantor from the person who conducts the event or from the obligee.

Keywords: independent guarantee contracts; validity duration

10.1163/ej.9789004190429.i-550.154
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dcterms_subject,pub_keyword
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