How do I discharge my bank guarantee?
Misappropriation of the Loan: A guarantor may terminate the guarantee contract where the principal debtor misappropriates the credit for other purposes other than for which the credit was granted to the knowledge of the creditor.
How do you discharge a guarantee?
Discharge of Guarantee. This Guarantee shall not be discharged except by complete performance of the obligations contained in the Asset Purchase Agreement, the Assignment and Assumption Agreement and this Guarantee. Discharge of Guarantee.
Can a lender discharge a guarantee?
There are a number of actions of the lender which can inadvertently result in the discharge of a guarantee. A material variation of the principal contract (e.g. the facilities agreement) by the lender and the borrower may discharge the guarantee.
How do I request a bank guarantee?
To request a guarantee, the account holder contacts the bank and fills out an application that identifies the amount of and reasons for the guarantee.
[PDF] Bank Guarantees Your Protection against Non-Performance and
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[PDF] Agreement of Guarantee - South Indian Bank
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[PDF] BANK GUARANTEE FOR PERFORMANCE BOND - IWK
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