If you hold a bank guarantee/insurance policy on a house contract and want to execute it, Lexland Lawyers can help you – even if the company is bankrupt!
An important factor in the execution of bank guarantees is the contract, but as many are not well understood due to their complexity and many detailed clauses, it is easy to be misled. Furthermore, each bank/financial entity asks for different and special conditions in each situation, making legal advice an absolute essential to the process.
With multiple options for types of guarantees, specific timing limits, and frequent problems with debtors in bankruptcy, the process can be a lengthy one, but by following the correct advice and guidelines, a process that can be solved in an efficient and smooth manner.
How secure is actually a bank guarantee?
Many Spanish Banks are guilty of gross negligence and a lack of professional due diligence for their failure to issue, or to verify the existence of Bank Guarantees/Certificates of Insurance protecting deposits paid in advance by purchasers for off-plan property in Spain – a requirement of Spanish Law.
Lexland’s experts can represent you throughout the process, defending your interests and recuperating your money in as timely a manner as possible. The execution of a Bank Guarantee can be unsuccessful, and as such can further complicate the process of recovering your investment if you do not have the right advice.
Contact us today to find out more information at absolutely no cost!