Article 376. Refusal of the guarantor to satisfy the requirement of the beneficiary.
1. The guarantor refuses the beneficiary to satisfy his demand if this demand or the documents attached to it do not meet the conditions of the guarantee or are presented to the guarantor after the expiry of the term specified in the guarantee. The guarantor must immediately notify the beneficiary of the refusal to satisfy his request. 2. If it became known to the guarantor before the beneficiary’s claim was satisfied that the principal obligation secured by the bank guarantee has already been fulfilled, fully or in the relevant part, has ceased on other grounds or is invalid, he should immediately inform the beneficiary and the principal of this. The recurring claim of the beneficiary received by the guarantor after such notification shall be satisfied by the guarantor.
References to other articles of chapter 23. Ensuring the fulfillment of obligations: