ICC Digital Library Forum

Pls let us know: according to Czech law, How many days Guarantor must settle and pay for the claim from Ben?
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Tks

I cannot imagine Czech law has any specific provisions regarding this matter and would be surprised if many countries did. I am certainly not aware of any such provisions in English law (not, I agree, that this is conclusive). Unless a demand guarantee (or any rules to which it is subject) contains a statement as to by when payment must be made I would expect most jurisidictions to require payment within a ‘reasonable’ time based on the how long it should take to establish if a demand is complying and then to make the necessary payment.

Dear Mr JSmith
Thank you so much for your comment


[edited 1/9/2010 1:24:44 AM]