After deduction of prior payments made respectively by the guarantor or the counter guarantor in conformity with the terms of their obligation, the liability of the guarantor and the counter guarantor shall be to the extent of the sum stated in the autonomous guarantee or autonomous counter guarantee bond.
The autonomous guarantee and autonomous counter guarantee bonds may stipulate that the amount of the debt shall be reduced by a determined or determinable amount on definite dates or on presentation to the guarantor or counter guarantor of documents stated for that purpose in the obligation.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 16
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 44 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
Report an error in this text
AI features are in beta
Where an official English or French text exists, we show it; where none does, we give
a translation, clearly marked as one and never presented as the official text. We make
every AI feature as accurate as we can, but it can be wrong and is not legal advice —
always check the cited official text.