Bank Guarantee – what’s going on ?!!?

This topic contains 4 replies, has 4 voices, and was last updated by  Anonymous 13 years, 1 month ago.

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  • #51912


    We have a bank guarantee covering a deposit paid on a property which was never built (paid almost 3 years ago). This morning I rang the bank with which we have our guarantee and I wnated to share with you all what happened. I had confirmed in March that the bank had a guarantee in our name and I spoke to the same person this morning. I asked him what the procedure is for enforcing our guarantee which matures on 31st July. His answer – “I am not allowed to tell you” !!. He asked my name and looked it up asking me to confirm my middle name – when I did this he quickly said “ok I think it is ok you will be able to get your money back but I am not allowed to tell you any more sorry, goodbye” !! I must admit I was a bit taken aback at this đŸ˜¯ – has anyone had a similar experience, is this the normal response to this request ? Maria maybe you could shed some light on it ? We want to make sure that we have all the documentation in place in order to enforce our guarantee as soon as it matures but how can we make sure of this if we don’t know what is required ??!! Apologies for repeating myself somewhat – I have made postings on some of the other threads on this topic also, but I felt this deserved a new topic.

  • #62892



    We have asked the very same question soooo many times that I have lost count. My husband became obsessive about it. Nobody gave us a definitive answer. (Before our court case )We wanted to have our presentation of the BG watertight so that there was no wriggling out of it by the bank. Even if they did/could tell us, the bank would probably dream up with some other elusive piece of documentation that we didn’t/couldn’t have!

    I hope somebody will answer your question, if only to satisfy our curiousity. đŸ˜‰

  • #62906



    I am sending you a pm


  • #62909



    I think Charlie gave to you a quite detailed procedural answer in the other forum:

    Bank Guarantee. Page 3.

    Best regards,

    MarĂ­a L. de Castro

  • #62929


    Charlie and Maria – thankyou for your replies.
    Maria our guarantee does not have the wording you mention. What it says is :

    “Para reclamar el pago de la cantidades garantizadas en el presente aval, el garantizado debera requerir fehacientemente a Banco Popular Hipotecario SA con acreditacion de que, llegado el dia 31 de Julio de 2006, no ha sido expedido el certificado final de obra y que no ha sido puesto a disposicion del comprador el inmueble de referencia.”

    I have some Spanish and I think it means that we must send to the bank evidence that we have no cert. of final completion and that we have not taken delivery of our property. If you could give me an exact translation when you get a chance I would be very grateful.
    Many thanks

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