The principal may not object paying the guarantor unless the demand for payment of the
beneficiary is manifestly excessive or fraudulent. The same shall be between the counter
guarantor and the guarantor.
The principal may not object to paying the counter guarantor unless the guarantor knew or had
reasons to know that the beneficiary’s demand for payment is manifestly excessive or fraudulent.
Official translation
Spot-checked
In force from 15 December 2010
Source page 17