How do I terminate my financial guarantee of completion?

Modified on Tue, 17 Jan 2023 at 05:55 PM

Only the French version is legally valid.

Article 1601-5 of the Civil Code, which provides that: "Any waiver of the completion guarantee is deemed unwritten", which should also apply to the reimbursement guarantee."

In general, we are still of the opinion that a termination / waiver of the financial guarantee of completion is contrary to public policy when it ultimately provides for a waiver by the buyer of the reimbursement guarantee before it has been activated.

In principle, a termination / waiver agreement could therefore only be concluded once the guarantee event has already been activated (= in case of default), and the buyer's right to repayment and/or completion has already arisen.

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