Al Tamimi & Company

Issues relating to bank guarantees in the UAE

A bank guarantee is defined in Article 411 of the Commercial Transaction Law No. 18 of 1993 as ‘an undertaking issued by a bank to settle the customer’s debt to a third party in accordance with conditions agreed and included in the guarantee, which may be for a limited or unlimited period of time’…

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Al Sila Tower
Level 26
Al Sowwah Square
Al Maryah Island
Abu Dhabi
PO Box 440
United Arab Emirates

Total lawyers: 230