The surety may commence proceedings against the principal debtor in recovery of the debt or
request that his interests in the estate of the debtor be preserved even before he settles the debt
in the following circumstances:
- as soon as proceedings are instituted against him; or
- where the debtor is in default of payment or fails to meet his liabilities; or
- where the debtor fails to release the surety of his obligations within the agreed time limit; or
- where payment of the debt has become due pursuant to the agreement between the creditor
and the debtor.
Section 4
Termination of the Surety-bond
Official translation
Spot-checked
In force from 15 December 2010
Source page 14