IV. G. — 2:108 Time limit for resort to security

Geldend

Documentgegevens:

Geldend vanaf 01-01-2009

Redactionele toelichting: De dag van de datum van afkondiging is gezet op 01. De datum van inwerkingtreding is de datum van afkondiging.
Bronpublicatie:: 01-01-2009, Internet 2009, ec.europa.eu (uitgifte: 01-01-2009, kamerstukken/regelingnummer: -)
Inwerkingtreding: 01-01-2009
Bronpublicatie inwerkingtreding:: 01-01-2009, Internet 2009, ec.europa.eu (uitgifte: 01-01-2009, kamerstukken/regelingnummer: -)
Vakgebied(en): Civiel recht algemeen (V)
EU-recht / Bijzondere onderwerpen
Internationaal privaatrecht / Algemeen

(1)

If a time limit has been agreed, directly or indirectly, for resort to a security establishing solidary liability for the security provider, the latter is no longer liable after expiration of the agreed time limit. However, the security provider remains liable if the creditor had requested performance from the security provider after maturity of the secured obligation but before expiration of the time limit for the security.

(2)

If a time limit has been agreed, directly or indirectly, for resort to a security establishing subsidiary liability for the security provider, the latter is no longer liable after the expiration of the agreed time limit. However, the security provider remains liable if the creditor:

(a): after maturity of the secured obligation, but before expiration of the time limit, has informed the security provider of an intention to demand performance of the security and of the commencement of appropriate attempts to obtain satisfaction as required according to IV. G. — 2:106 (Subsidiary liability of security provider) paragraphs (2) and (3); and
(b): informs the security provider every six months about the status of these attempts, if so demanded by the security provider.

(3)

If performance of the secured obligations falls due upon, or within 14 days before, expiration of the time limit of the security, the request for performance or the information according to paragraphs (1) and (2) may be given earlier than provided for in paragraphs (1) and (2), but no more than 14 days before expiration of the time limit of the security.

(4)

If the creditor has taken due measures according to the preceding paragraphs, the security provider's maximum liability is restricted to the amount of the secured obligations as defined in IV. G. — 2:104 (Coverage of security) paragraphs (1) and (2). The relevant time is that at which the agreed time limit expires.