Article 368. The concept of a bank guarantee.
By virtue of a bank guarantee, a bank, other credit institution or insurance organization (guarantor) shall, at the request of another person (principal), give a written obligation to pay the principal (the beneficiary) to the creditor in accordance with the conditions of the obligation given by the guarantor upon the written request for payment.
References to other articles of chapter 23. Ensuring the fulfillment of obligations: