Please advise whether or not a guarantor can cancel a guaratee on expiry date under Spain law? (regardless original guarantee is returned or not)
The guarantee is not subject to URDG nor ISP. It is subject under laws of Spain.
Your prompt reply would be highly appreciated.
With the introduction of Uniform Rules for Documentary Guarantee or URDG 758, the rules for Documentary Guarantee seem to be popular again. It can be imagined from the increasing number of questions that have popped up in recent days. Documentary Guarantee Forum is an effort to develop a platform to discuss these questions.
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