Lex Cameroon

Acte uniforme révisé portant organisation des sûretés › Title 1 › Chapter 1

SECTION 19

Unless otherwise provided, a general surety bond covering the debts of the principal debtor, in the form of a security for all liabilities, the debit balance of a current account or in any other form shall refer only to direct contractual debts. Under pain of nullity, it shall be made for a maximum amount including the principal debt, interest and other accessories which shall be freely determined by the parties. The general surety bond may be renewed where the maximum amount is reached. The renewal shall be express. Any clause to the contrary shall be disregarded. It may be revoked at any time by the surety before the maximum secured amount is reached. Any commitment of the debtor made before such revocation shall remain secured by the surety. Unless otherwise provided, the general surety bond shall not secure the debts of the principal debtor contracted before the date of the surety bond. Section 2 Terms and Conditions of a Surety-Bond
Official translation Spot-checked In force from 15 December 2010 Source page 11

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Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Refers to

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Section 19 of the Acte uniforme révisé portant organisation des sûretés /akn/ohada/act/loi/undated/aus-2010
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