Obligations arising from the letter of guarantee

The High Court of Cassation and Justice has ruled that, if the letter of guarantee provided only for the existence of the bank’s obligation to pay the amounts corresponding to the fees payable under a lease, the bank’s responsibility can not be engaged when the contract changes did not obtain proper consent to amend the bank guarantee letter by extending guarantees and investments where failure or for late payment fee of royalty. (Decision no. 4982 of December 13, 2012 passed in Appeal Civil Division II of the High Court of Cassation and Justice covering claims)

:: The source: JURIDICE.ro

Dan Alexandru NEGRU

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