The principal may not object paying the guarantor unless the demand for payment of the beneficiary is manifestly excessive or fraudulent. The same shall be between the counter guarantor and the guarantor.
The principal may not object to paying the counter guarantor unless the guarantor knew or had reasons to know that the beneficiary’s demand for payment is manifestly excessive or fraudulent.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 17
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 47 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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