You can not terminate the contract because of the failure to provide a bank guarantee to the new customer

23 March 2016, Wednesday

Bank guarantee, according to the Court, meets the provisions of of the contract and documentation and was valid.

In this regard, recognized: new customer, to which the contractor has not provided a bank guarantee, unlawfully decided to unilaterally withdraw from the contract.

By entering into an additional agreement on the change of the customer, the parties have not provided the obligation of the contractor to provide a new guarantee. Such charges are not contained in the documentation. In addition, the Law N 44-FL it is established that the purchase of the participant must provide a additional cover of contract execution

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