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akcesorna bankarska garancija

English translation: accessory bank guarantee

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Serbo-Croat term or phrase:akcesorna bankarska garancija
English translation:accessory bank guarantee
Entered by: miriana
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17:27 Feb 18, 2009
Serbo-Croat to English translations [PRO]
Law/Patents - Finance (general)
Serbo-Croat term or phrase: akcesorna bankarska garancija
iz tuzbe: "...pogresan je zakljucak suda da je bankarska garancija.. 'pravni posao sui generis' koji nije ugovor o prometu roba i usluga, kao i da se u konkretnom slucaju radi o samostalnoj, a ne akcesornoj garanciji..."
miriana
Bosnia and Herzegovina
Local time: 22:01
accessory bank guarantee
Explanation:
http://forum.reserve-bank.com/viewtopic.php?t=21

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Note added at 14 mins (2009-02-18 17:42:19 GMT)
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https://www.sebank.se/foretagskontoret/help/6000/6100/kgbh61...

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Note added at 17 mins (2009-02-18 17:44:36 GMT)
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Definition of obligations
There are three descriptions of the bank’s obligations.

Accessory guarantee
An accessory guarantee is dependent on an underlying contract or agreement that is to be presented to the bank before the guarantee is issued. The guarantor/bank has the same rights to object a claim as does the principal. The guarantor can await a court decision or arbitrational settlement or a written agreement between the principal and the beneficiary.

Demand guarantee
A demand guarantee is not dependent on an underlying contract or agreement. The guarantor/bank is obliged to pay the beneficiary on first demand and must pay without objection if the beneficiary presents the correct documentation. A demand guarantee can be strengthened with additional documentation, such as a court decision, arbitrational settlement or certificate from an independent surveyor.

Standby letter of credit
A standby letter of credit is, like a demand guarantee, not dependent on an underlying contract or agreement and works like a demand guarantee in letter of credit instruments. In a standby letter of credit, the issuing bank promises to pay the beneficiary when he or she presents the documents specified in the standby letter of certificate.

Selected response from:

Natasa Djurovic
Serbia
Local time: 22:01
Grading comment
Najljepsa hvala!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +5accessory bank guarantee
Natasa Djurovic


  

Answers


13 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +5
accessory bank guarantee


Explanation:
http://forum.reserve-bank.com/viewtopic.php?t=21

--------------------------------------------------
Note added at 14 mins (2009-02-18 17:42:19 GMT)
--------------------------------------------------

https://www.sebank.se/foretagskontoret/help/6000/6100/kgbh61...

--------------------------------------------------
Note added at 17 mins (2009-02-18 17:44:36 GMT)
--------------------------------------------------

Definition of obligations
There are three descriptions of the bank’s obligations.

Accessory guarantee
An accessory guarantee is dependent on an underlying contract or agreement that is to be presented to the bank before the guarantee is issued. The guarantor/bank has the same rights to object a claim as does the principal. The guarantor can await a court decision or arbitrational settlement or a written agreement between the principal and the beneficiary.

Demand guarantee
A demand guarantee is not dependent on an underlying contract or agreement. The guarantor/bank is obliged to pay the beneficiary on first demand and must pay without objection if the beneficiary presents the correct documentation. A demand guarantee can be strengthened with additional documentation, such as a court decision, arbitrational settlement or certificate from an independent surveyor.

Standby letter of credit
A standby letter of credit is, like a demand guarantee, not dependent on an underlying contract or agreement and works like a demand guarantee in letter of credit instruments. In a standby letter of credit, the issuing bank promises to pay the beneficiary when he or she presents the documents specified in the standby letter of certificate.



Natasa Djurovic
Serbia
Local time: 22:01
Works in field
Native speaker of: Native in SerbianSerbian
PRO pts in category: 68
Grading comment
Najljepsa hvala!

Peer comments on this answer (and responses from the answerer)
agree  Larisa Djuvelek-Ruggiero
21 mins
  -> Hvala

agree  V&M Stanković: ili "ancillary guarantee" (v. http://www.encyclopediaofcredit.com/WebHelp/encyclopedia.htm... i http://www.creditmanagementworld.com/glossary/internationalg... )
3 hrs
  -> Hvala

agree  Gordana Sujdovic: ili samo accessory guarantee - nasuprot non-accessory guarantee (independent guarantee) http://taz.vv.sebank.se/cgi-bin/pts3/mc1/MB/mblib.nsf/a-w/F4...$FILE/Guarantee.pdf
3 hrs
  -> Hvala Gordana :)

agree  Kristina Kolic
5 hrs
  -> Hvala

agree  lirka: ancillary
21 hrs
  -> Hvala
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