Surety insurance services

The main debtor and the surety may be jointly sued if such joinder does is incongruous with the contract on suretyship.

2.01 The Guarantor, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of the Borrower to the Bank under the Finance Contract, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by the Borrower to the Bank under any provision of the Finance Contract.

The Guarantor, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of the Borrower to the Bank under the Finance Contract, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by the Borrower to the Bank under any provision of the Finance Contract, when the guarantee is enforced.

2.01 The guarantor, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of the borrower to the bank under the Finance contract, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by the borrower to the bank under any provision of the Finance Contract, when the guarantee is enforced.

2.01 The Guarantor, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of the Borrower to the Bank under The Finance Contract, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by the Borrower to the Bank under any provision of the Finance Contract, when the guarantee is enforced.

2.01 The Guarantor, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of the Borrower to the Bank under the Finance Contract, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by the Borrower to the Bank under any provision of the Finance Contract, when the guarantee is enforced.

If, in the course of determining the customs value of imported goods, it becomes necessary to delay the final determination of such customs value, the importer of the goods shall nevertheless be able to withdraw them from customs if, where so required, the importer provides sufficient guarantee in the form of a surety, a deposit or some other appropriate instrument, covering the ultimate payment of customs duties for which the goods may be liable.

1.3 The payment obligations of the Guarantor hereunder shall be non accessory, primary and independent obligations of the Guarantor within the meaning of Art. 111 and not a mere surety within the meaning of Art. 492 et seq. of the Swiss Code of Obligations, subject only to the requirements of the Guarantee Request contemplated herein and in particular independent of any legal proceedings or other action instituted by Eurofima against the Borrower or any other security which has been or will be furnished to Eurofima in respect of its claims under the Financing Documents.

suretyship (direct)

suretyship (indirect)

Classes Nos 14 and 15, it shall be named "Credit and Suretyship Insurance";

The Guarantor, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of the Borrower to the Bank under the Finance Contract, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by the Borrower to the Bank under any provision of the Finance Contract.

15. Suretyship insurance shall be insurance covering and directly or indirectly guaranteeing the meeting of debtors' obligations:

7. Credit and suretyship insurance shall cover the classes of insurance referred to in items 14 and 15 of the second paragraph hereunder.

their business does not cover liability risks unless these constitute ancillary cover within the meaning of point C of the Annex or credit and suretyship risks;

their business does not cover liability risks - unless the latter constitute ancillary cover within the meaning of subparagraph (c) of the Annex - or credit and suretyship risks,

Whereas the various laws contain different rules as to the simultaneous undertaking of health insurance, credit and suretyship insurance and insurance in respect of recourse against third parties and legal defence, whether with one another or with other classes of insurance;

Pending further coordination, which must be implemented within four years of notification of this Directive, the Federal Republic of Germany may maintain the provision prohibiting the simultaneous undertaking in its territory of health insurance, credit and suretyship insurance or insurance in respect of recourse against third parties and legal defence, either with one another or with other classes.

Credit and surety insurance services

Credit and surety ship insurance services

the term 'guaranteeing association ` shall mean an association approved by the customs authorities of a Contracting Party to act as surety for persons using temporary importation papers;

(Includes only current bank accounts (cuentas corrientes bancarias), sight deposits, time deposits savings accounts, financial instruments with repurchase agreements, and warranty deposits or surety bonds.)

Credit and suretyship insurance services

the obligation to provide a surety-bond or special guarantees as a reciprocal requirement (Law of 15 February 1917, amended and supplemented by the 'decret-loi' of 30 October 1935, Article 2 (2) - 'decret-loi' of 14 June 1938, Article 42 - 'decret' of 30 December 1938, as amended, Article 143 - - 'decret' of 14 December 1966, Articles 9, 10 and 11);

The laws, regulations or administrative provisions that involve beneficiaries in the obligation to provide a deposit or special surety-bond shall not be abolished, as long as the undertakings do not fulfil the financial conditions under Articles 16 and 17 of the first Coordination Directive in accordance-with the provisions of Article 30 (1) and (2) of the same Directive.

(Includes only ordinary loans, consumer credit, loans in letters of credit, mortgage loans, mortgage loans in letters of credit, purchase of financial instruments with resale agreements, credit for issue of bank surety bonds or other types of financing, issue and negotiation of letters of credit for imports and exports, issue and confirmation of stand-by letters of credit.)

Council Directive 87/343/EEC of 22 June 1987 amending, as regards credit assurance and suretyship assurance, the first Directive (73/239/EEC) (OJ No L 185, 4.7.1987, p. 72),

decide on any acquisition, sale and mortgaging of land and other titles to real property, as well as on the giving of any sureties or guarantees, the taking-out of shares in other undertakings or institutions, and on any granting or taking of loans,

Council Directive 87/343/EEC of 22 June 1987 amending, as regards credit insurance and suretyship insurance, First Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance

The Member States may apply a 50% weighting to off-balance-sheet items which are sureties or guarantees having the character of credit substitutes and which are fully guaranteed, to the satisfaction of the competent authorities, by mortgages meeting the conditions set out in paragraph l(c)(l), subject to the guarantor having a direct right to such collateral.

credit and suretyship,

the term "guaranteeing association" shall mean an association approved by the customs authorities of a Contracting Party to act as surety for persons using the TIR procedure.

credit and suretyship (14 and 15),

_ credit and suretyship (14 and 15),

credit and suretyship (classes 14 and 15),

When a natural or legal person proposes to stand surety under the conditions referred to in Articles 27 and 28 of and on the terms laid down in Article 32 (1), of Appendix I, the guarantee shall be given in the form as shown in Specimen III annexed to Appendix I.

IX - SURETIES, OTHER GUARANTEES AND RIGHTS OF PLEDGE

THE OBLIGATION TO PROVIDE A SURETY-BOND OR SPECIAL GUARANTEES AS A RECIPROCAL REQUIREMENT (LAW OF 15 FEBRUARY 1917 , AMENDED AND SUPPLEMENTED BY THE " DECRET-LOI " OF 30 OCTOBER 1935 , ARTICLE 2 (2) - " DECRET-LOI " OF 14 JUNE 1938 , ARTICLE 42 - " DECRET " OF 30 DECEMBER 1938 , AS AMENDED , ARTICLE 143 - " DECRET " OF 14 DECEMBER 1966 , ARTICLES 9 , 10 AND 11);

THE LAWS , REGULATIONS OR ADMINISTRATIVE PROVISIONS THAT INVOLVE BENEFICIARIES IN THE OBLIGATION TO PROVIDE A DEPOSIT OR SPECIAL SURETY-BOND SHALL NOT BE ABOLISHED , AS LONG AS THE UNDERTAKINGS DO NOT FULFIL THE FINANCIAL CONDITIONS UNDER ARTICLES 16 AND 17 OF THE FIRST COORDINATION DIRECTIVE IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 30 (1) AND (2) OF THE SAME DIRECTIVE.

In the second subparagraph of Article 7 (2) (c), the words 'credit and suretyship insurance' shall be deleted.

Sureties and assets pledged as collateral security shall include all guarantee obligations incurred and assets pledged as collateral security on behalf of third parties, particularly in respect of sureties and irrevocable letters of credit.

Whereas the interests of insured persons are sufficiently safeguarded, as regards suretyship insurance, by the said Directive;

Indication of the places where the public may have access to the texts of the contracts relating to these guarantees, sureties and commitments.

contracts of suretyship granted and on collateral securities furnished by persons acting for purposes outside their trade, business or profession;

whereas the prohibition in the Federal Republic of Germany on the simultaneous undertaking of suretyship insurance and other classes should be lifted;

Nature and scope of the guarantees, sureties and commitments intended to ensure that the loan will be duly serviced as regards both the repayment of the debt securities and the payment of interest.

Whereas account should also be taken of the case where the guarantee is secured by real collateral within the meaning of Article 6(1)(c)(1) in respect of off-balance-sheet items which are sureties or guarantees having the character of credit substitutes;

COUNCIL DIRECTIVE of 22 June 1987 amending, as regards credit insurance and suretyship insurance, First Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance