Does the bank guarantee ensure a good night’s sleep?

The lawyer in our office JUDr. Lukáš Žáček and legal trainee Mgr. Vojtěch Kadlec have prepared an artical for you on the topic of the pitfalls of bank guarantees. The article takes into account our hands-on experience in negotiating and applying bank guarantees. As you will learn from the article, the idea that a bank guarantee automatically takes care of the payment of the counterparty’s debt is wrong and it is necessary to pay attention to a few basic things. And what is your situation? Do you really have your receivables secured?