The bill (Reg. No. 2142a) suggests refine the notion of “guarantees”; eliminate collisions in the part of the list of objects of guarantee relations, primarily of persons who are entitled to issuing guarantees; and determine the procedure of change of a party in the guarantee, etc.
The document supplements article 560 of the Civil Code of Ukraine with a provision on guarantee conditions.
The bill suggests a new version of article 562 of the Civil Code of Ukraine.
The bill suggests exclude article 200 of the Economic Code concerning bank guarantees to secure fulfillment of economic commitments.
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