Re: executing a bank guarantee


I have been waiting for an off plan property for over two years and its been 5 months since our solicitors asked for a cancellation contract. The developer has ignored all contact by email, fax and letter. That is the background. I have been told that I cannot execute the bank guarantee without the authorisation of the developer which in view of what I have just said does not seem likely.

Can any of the Legal eagles throw any light on this?