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ARTICLE · 12 FEBRUARY 2020

Suretyship As Per Egyptian Laws And Regulations

Youssry Saleh Law Firm
Youssry Saleh Law Firm
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Youssry Saleh Law Firm

Youssry Saleh Law Firm

Youssry Saleh Law Firm, based in Cairo, has been operating since 1985. During 40 years of practice...

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Can one Company Act as a Guarantor for the Other? According to the Egyptian law Companies cannot guarantee another Company unless it is stipulated in another Company's Articles of Association ...

EgyptCorporate/Commercial Law
Zaynab Ismail
Zaynab Ismail
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Can one Company Act as a Guarantor for the Other ?. According to the Egyptian law Companies cannot guarantee another Company unless it is stipulated in another Company's Articles of Association that it can participate in any manner with Entities carrying out activities similar to the Company's activities, or which may contribute the fulfillment of the Company's activities.

Accordingly, the Companies conclude a Suretyship Contract, whereby a person guarantees the performance of an obligation by giving an undertaking to the Creditors to fulfil such obligation should the debtor fail to do so. The Egyptian Civil Code governs the Suretyship Contracts.

Elements of the Suretyship Contract

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