Independent obligation
The guarantor’s obligation is distinct from the underlying contract dispute.
Formal compliance matters
Timing, delivery method, documents and wording must match the guarantee.
Payment changes the creditor
After paying, the guarantor may seek reimbursement from the principal.
Three parties and two obligations
| Party | Role | Bankruptcy step |
|---|---|---|
| Beneficiary | Guarantee recipient | Demands payment and tracks underlying balance |
| Guarantor | Bank or commercial entity | Reviews documents and considers recourse after payment |
| Principal | Underlying debtor | Underlying debt follows register or current-claim rules |
Articles 368 and 370 make the guarantee independent from the underlying obligation. Payment is not automatic on any letter, however: the beneficiary must comply with the documents, form and expiry terms.
Beneficiary workflow
Verify authenticity and expiry
Check guarantor, number, amount, parties, expiry and delivery channel.
Prepare the documents
Describe the breach and attach each document expressly required.
Coordinate the register claim
File the unpaid underlying claim and disclose guarantor payments.
Prevent double recovery
Reduce the outstanding balance after every payment and notify the court.
Two deadlines: presentation and review
Rules checked on 21 October 2026. Under Civil Code Article 374, a written demand with the documents required by the guarantee must be presented to the guarantor before expiry. The demand or its annex must identify the circumstances triggering payment. Waiting for admission to the principal’s creditor register does not replace presentation under the guarantee.
Under Article 375, the ordinary review period is five days, starting on the day after receipt of the complete package. The guarantee may set another period of up to thirty days. This review period does not extend the presentation deadline: record expiry, receipt of the complete package and the applicable response period separately. Check special rules for a guarantee issued for regulated procurement.
- Check the recipient and permitted delivery channel: paper, electronic system or another procedure specified in the guarantee.
- Retain the entire package, attachment list and delivery or system-acceptance evidence.
- Avoid leaving submission to the final day: the method and timing of presentation may become decisive.
- If refused, compare each reason with the guarantee and law; if time remains, assess whether defects can be corrected.
What to include in the demand
A general template cannot replace the particular guarantee’s terms. Use them as a checklist:
- The guarantor and beneficiary, guarantee number and date.
- The amount and calculation within the guarantee, allowing for performance already received.
- The circumstances triggering payment and the covered obligation.
- Every document named in the guarantee; a general bankruptcy notice is not a substitute.
- Payment details, an authorised signature and evidence of authority where required.
- The dispatch date and separate proof of presentation.
Reconcile the balance after a partial payment
Reconcile each obligation: original amount, principal payments, guarantee payments, insolvency distributions and balance. Track interest, penalties and costs separately according to their legal basis and guarantee coverage.
Guarantor insolvency
Guarantor bankruptcy is not itself a termination ground under Article 378. The enforcement route changes and may follow the special insolvency regime for a bank or ordinary company, materially reducing practical security.
Documents
- guarantee and amendments;
- underlying contract and breach evidence;
- demand and delivery evidence;
- guarantor response and payment proof;
- bankruptcy publications;
- outstanding-balance calculation.
FAQ
Does principal bankruptcy terminate the guarantee?
No, absent a separate statutory or contractual termination event.
Must the beneficiary first file against the principal?
Usually the guarantee demand is independent, while the underlying claim is coordinated in parallel.
Can the guarantor rely on the underlying dispute?
Only within permitted independent-guarantee refusal grounds.
What does the guarantor receive after payment?
Reimbursement rights follow Article 379 and the issuance agreement.
Can I wait for register admission before approaching the guarantor?
Check the guarantee promptly: it has a separate presentation deadline. Filing in the principal’s case does not replace a demand to the guarantor.
Official sources
- Civil Code Article 368
- Civil Code independent-guarantee rules
- Supreme Court independent-guarantee review
Related guides: creditor register, current claims and subrogation and its distinction from recourse.
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