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Timely presentation under LG

Posted: Thu Mar 26, 2015 12:00 am
by asamaha
A non-URDG demand guarantee subject to an EU country law specifies an expiry date.
Would you consider as timely presented, a demand sent by the beneficiary by registered letter before the expiry date but received by the guarantor after that date.
Regards
Antoine

Timely presentation under LG

Posted: Thu Apr 02, 2015 1:00 am
by JudithAutié
It depends on where the availability was stipulated in the LG. Usually it's at the counters of the issuer, and consequently the documents/claim must be received there at the latest on the expiry date.

Timely presentation under LG

Posted: Thu Apr 02, 2015 1:00 am
by asamaha
The Guarantee is available at the counters of the guarantor in Italy. But it seems that the Italian law allows presentation of claims until 2 months after LG expiry!!
Is it true?
Thanks and Regards
Antoine