SOFIHDES undertakes, for the plaintiff to pay the guarantee on demand on presentation of specified documents, the document minimum required as the declaration on establishing the failure of the payer.

The Customer will then have to provide a financial guarantee (cash deposit, first demand guarantee, joint guarantee).

Usual practice: When the security deposit exceeds six month’s rent, it is often replaced by an FDG (“first demand guarantee”), and the two are then merged.

Usual practice: When the security deposit exceeds six month's rent, it is often replaced by an FDG ("first demand guarantee"), and the two are then merged.

NETHYS reserves the right to ask the supplier to provide a security (surety, first demand guarantee) or to hold back payment, as surety for the performance of the work.

The first-demand guarantee is independent of the principal underlying obligation.

All the securities issued withinthe same programme can benefit from a first-demand guarantee in accordance with the conditions established by the order of the Minister for the Economy.

All the securities issued withinthe same programme can benefit from a first-demand guarantee in accordance with the conditions established by the order of the Minister for the Economy.

Counsel to an engineering company in a dispute with a French bank and its local branch concerning payment of a first-demand guarantee for a construction project in South Africa.

All the securities issued withinthe same programme can benefit from a first-demand guarantee in accordance with the conditions established by the order of the Minister for the Economy.