The customer can not refuse from the rights under the bank guarantee providing application
25 March 2016, Friday
Law N 44-FL does not provide that the customer can send a notice to the bank, and refuse, for example, from the right to demand cash on the guarantee issued to secure the application.
Ministry of Economic Development makes this conclusion despite the fact that according to the Civil Code of the Russian Federation the bank's obligation to the client is terminated when the beneficiary (the customer) renounces its rights under the guarantee.
Document: Letter of the Russian Ministry of Economic Development on 10.09.2015 N Д28и-2763
http://www.consultant.ru/law/review/fed/fks2016-03-15.html
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