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Posts tagged #bank guarantee

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OGH Affirms Bank Guarantee Enforceability

Civil Law 

The Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) had to consider the question of the conditions under which the enforcement of a bank guarantee issued as security pursuant to Section 1170b of the Austrian General Civil Code (Allgeme...

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OGH on the guarantee demand of the general contractor

In the case at hand, the Supreme Court (Oberster Gerichtshof, OGH) examined the legality of a significantly excessive request for collateral by the contractor of a building within the meaning of Section 1170b of the Austrian Civil Code (Allgemeines b...

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