The autonomous guarantee or autonomous counter guarantee shall cease to exist in any of the following cases:
- on the specified calendar day or at the expiration of the time limit;
- n the presentation to the guarantor or counter guarantordischarging documents specified in the autonomous guarantee or counter guarantee;
- on the written declaration of the beneficiary discharging the guarantor of his obligation regarding the autonomous guarantee or the written declaration of the guarantor discharging the counter guarantor of his obligation regarding the autonomous counter guarantee.
TITLE – 2
TRANFERABLE SECURITIES
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 17
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 49 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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