Bank Guarantee.
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Can anyone tell me what the Bank Guarantee. should look like.
My Lawyer has just emailed me a copy of mine and it's just one sheet with our passport information on it and a little more info on what we have paid.
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Maureen & Dennis
Coto Real
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normally it is one sheet issued by the bank who "guarantees" the amount(s) therein indicated, citing the detail of the bank and the person authorised within that entity, then it says "AVALA" indicating the promotor´s details and yours along with the amount deposited, the unit for which it is intended and the expiration date (which would normally be the date of delivery in your purchase/sale contract.)
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This message was last edited by JeansSis on 5/19/2007.
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Thanks to you both, I just thought it looked a bit odd, one little piece of paper with not much on it. and the time it took to get it is another thing. Hopefully we will not need it !!!!!!!!!!!!!!!
_______________________
Maureen & Dennis
Coto Real
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It also needs to have the registration number in the Registro Nacional de Avales ( Usually at the end of the sheet).
Pay attention for the aval/insurance being individual, and no colective... and don´t pay a euro for it.. AS you all know now, it is a legal obligation of the developer.
Good weekend!
M.
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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