Bank guarantee
Personal guarantee by which a financial institution commits jointly and severally to pay a third party's debt if they default. Autonomous from the main debt (the principal debtor's defences cannot be raised). Widely required by the Tax Authority for deferrals, by the Administration in public procurement and by courts for interim measures.
Related resources
Other Commercial law terms
Universal judicial proceeding to resolve a debtor's insolvency, balancing the interests of all creditors. May end in a payment agreement or asset liquidation.
Commercial corporate form where capital is divided into shares and partners' liability is limited to contributed capital. Most common form in Spain for SMEs.
Commercial corporate form with capital divided into freely transferable shares. Minimum capital: EUR 60,000, at least 25% paid up. Mandatory for listed companies, banks and insurers.
Distinctive sign identifying products or services in the market. Registered with OEPM (Spain) or EUIPO (EU). Protection for 10 renewable years. Grants exclusive use rights and infringement prosecution.
Lexiel searches case law on this term and drafts documents with verified citations.
Try free