English translation
If the bank pays the beneficiary the amount agreed upon in the letter of guarantee, it shall be subrogated to the beneficiary's right of recourse against the applicant to the extent of the amount it paid. Section Nine Current Account
Arabic original
إذا وفى البنك للمستفيد المبلغ المتفق عليه في خطاب الضمان حل محله في الرجوع
على الأمر بمقدار المبلغ الذي دفعه.Ask about this article
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