Gewährleistungserklärung contract of guarantee
| Creator: | |
| Language pair: | German to English |
| Definition / notes: | In the case of a syndicate of banks represented by an agent, Hermes will deal solely with the agent in all questions relating to the application and its approval. The approval in principle, the final commitment and the Declaration of Guarantee will be addressed to the agent but will normally include the names of each individual syndicate bank within its terms. The contract of guarantee comes into force under German law with each individual covered syndicate bank. |
| URL: | http://www.nortonrosefulbright.com/knowledge/publications/79558/hermes-buyer-credit-guarantees-in-project-financing |
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