In the month when the notice to pay is served on the principal debtor and he fails to comply, the creditor shall inform the surety of the default of the principal debtor stating the unpaid amount including the principal, interest and other accessories on the due date of payment.
Failing that, the surety shall not be liable for penalties or late payment interest accruing from the due date of payment to the date he was given notice of the default.
Any clause contrary to the provisions of this article shall be disregarded.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 12
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 24 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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