Kuwait Court of Cassation principle number 464

The sums represented by a letter of guarantee are considered funds owned by the bank until they are disbursed to the beneficiary. The effect thereof. The customer cannot claim them, and his creditors may not attach them in the hands of the bank or with the beneficiary, and they do not enter the latter’s financial patrimony unless he personally requests them within the limits of the bank’s obligation and the terms of the letter. The judgment’s contravention of this. It renders it defective. Its cassation.