Remediile ordonatorului împotriva beneficiarului în cazul executării nejustificate a scrisorii de garanţie bancară
Remedies of the authorizing officer against the beneficiary in case of the unjustified enforcement of the letter of bank guarantee

Summary/Abstract: This study analyses the account party’s remedies against the beneficiary in case of an unjustified demand for payment of the letter of bank guarantee, in order to recover the amounts paid to the issuing bank, on the basis of the loan agreement, for reimbursing the loan drawn on the demand for payment and for paying the cost of this loan. First, the study analyses the concept of unjustified demand for payment of the letter of bank guarantee and the issuing bank’s claim against the account party; second, the study criticizes the doctrinal views on undue payment and unjustified enrichment as remedies available to the account party against the beneficiary; third, the study justifies the solution of a contractual liability claim on the basis of the underlying contract, which can be used by the account party against the beneficiary.

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