The demand for payment on the basis of the autonomous guarantee shall take the form of a written document executed by the beneficiary accompanied by any other document provided for in the obligation. This demand shall state the duties the principal failed to perform in the discharge of his obligation with regard to the subscribed guarantee.
The demand for payment on the basis of the autonomous counter guarantor shall take the form of a written document executed by the guarantor stating that he has received the said demand from the beneficiary in conformity with the terms of the counter guarantee bond.
A demand for payment shall be in accordance with the terms of the autonomous guarantee or autonomous counter guarantee regarding the purpose for which it is made and shall, except otherwise stipulated, be presented in the place of issue of the autonomous guarantee or, in the case of the autonomous counter guarantee, in the place of its issue.
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.
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Section 45 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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