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miércoles, 6 de julio de 2016

HIGH COURT JUDGEMENT ABOUT CASH PAYMENTS & BANK GUARANTEES

High Court has just confirmed that cash Payments are covered by Bank Guarantees as long as they appear on the purchase contract's payment schedule and there are receipts for the payment.

Therefore, bank guarantees given under the provisions of the 57/68 Act must cover the whole amount paid by purchaser as part of the purchase price, even cash. Amounts' cover limits are against they law and must be called void.


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