ECC 101/64
Type
Case
Court
Egypt Court of Cassation
Jurisdiction
Egypt
Taxonomy
Terms, General Contract Law, Financial Institutions, Lending & Security, Guarantees
Copyright
LexisNexis
Decision date
7 May 2001
Catchwords
Contract – Term – Bank – Guarantee – Loan
This case involved a company which had requested a loan from a bank and had been asked to provide that bank with a guarantee from another bank. The work the loan was needed for did not go ahead and the company asked for the guarantee to be returned but the bank requested a fee for this service. This was wrong as a fee for this service had not been included in the contract terms.
Background