Except otherwise provided, the beneficiary’s right to a guarantee shall not be assignable.
However, the non-transferability of this right shall not affect the beneficiary’s right to transfer any amount of money he may be entitled to following the presentation of a demand which conforms to the guarantee bond.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 15
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 42 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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