An autonomous guarantee shall mean anagreement by which, the guarantor undertakes,
following an obligation signed by the principal and on his instructions, to pay a fixed sum of
money to a beneficiary either at the earliest demand of the latter or as per the agreed terms.
The autonomous counter guarantee shall mean the agreement by which the counter guarantor
undertakes, following an obligation signed by the principal and on his instructions, to pay a
fixed sum of money to a guarantor either at the earliest demand of the latter or as per the agreed
terms.
Section 1
Formation of Autonomous Guarantees and Autonomous Counter Guarantees
Official translation
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In force from 15 December 2010
Source page 15