Article 368: Concept and form of independent guarantee

1. Under an independent guarantee, the guarantor assumes, at the request of another person (principled), an obligation to pay a specified sum of money to a third person (beneficiary) in accordance with the right of the debtor to pay a sum of money. The requirement of a certain sum of money is met if the conditions are not met. 2. An independent guarantee shall be issued in writing (art. 434, para. 2), allowing The guarantee must be clearly defined and the person ' s extradition certified to be genuine, in accordance with the procedure established by law, custom or agreement of the guarantor with the beneficiary. 3. Independent guarantees may be issued by banks or other credit organizations (bank guarantees) as well as by other commercial organizations. 4. An independent guarantee must include: the date of extradition; the principal; the beneficiary; the guarantor; the main guarantee; and the main guarantee. obligation for which the guarantee is enforceable; monetary amount to be paid or the manner in which it is determined; duration of the guarantee; circumstances in which it is due An independent guarantee may contain a condition that the amount of the guarantee be reduced or increased when a certain period of time or event has arrived. This paragraph applies also in cases where the obligation of the grantor consists of the transfer of shares, bonds or items defined by descent, unless otherwise provided. e is derived from the essence of the relationship.