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Article 376. Refusal by the guarantor to satisfy the beneficiary ' s claim

📅 Updated: 30.09.2026

1. The guarantor shall refuse the beneficiary ' s claim if the claim or the documents attached do not comply with the terms of the independent guarantee or are submitted to the guarantor at the end of the period The guarantor must notify the beneficiary within the time limit provided for in article 375 (2) of the present Code, indicating the reason for the refusal. Tank payment for a period of up to seven days if he has reasonable grounds to believe that: (1) any of the documents submitted to him is untrustworthy; (2) the circumstances in the event of an incident I, whose independent guarantee provided for the interests of the beneficiary, did not arise; (3) the principal obligation of the principal, guaranteed by the independent guarantee, is invalid; (4) performance by the main guarantee 3. In the event of suspension of payment, the guarantor is obliged to notify the beneficiary and the principal of the reasons and duration of the suspension. 4. The guarantor shall be liable to the beneficiary and the principal for the unjustified suspension of payment. There is no reason to refuse the beneficiary ' s claim (paragraph 1 of this article) the guarantor is obliged to pay the guarantee.