THE BANK GUARANTEE TROUGH THE COURT PRACTICE

Kamelia Kassabova ()
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Kamelia Kassabova: Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2020, vol. 18, issue 1, 159-175

Abstract: The article is a study of the bank guarantee regulation in the Bulgarian legislation and the Subsidiary Application of the Uniform Rules for Demand Guarantees 2010 revision, ICC Publication No. 758. The bank guarantee is considered as a complex of legal relations between the orderer, the issuer and the beneficiary. Explained is the importance of the bank guarantee as a document and a unilateral transaction of the issuing bank. The emphasis is on the payment of the bank guarantee and the right of objection by the issuing bank. The specific features of the individual types of bank guarantees are analyzed. A distinction has been made between the letter of credit as a form of payment and the bank guarantee as a form of security. The whole article contains a critical analysis of existing national court practice (case law).

Keywords: guarantor; issuer; beneficiary; expiry date; requirements for demand; demand guarantee; non complying demand; irrevocable guarantee; transferable guarantee; payment guarantee; tender guarantee; advance payment guarantee; performance guarantee; warranty guarantee. (search for similar items in EconPapers)
Date: 2020
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