Caja Murcia Bank Guarantee

Has anyone had their bank guarantee renewed with Caja Murcia.  Our guarantees have always been renewed up until last July.

Apparently, Caja Murcia are not renewing any bank guarantees.  Our bank guarantee (also with Caja Murcia) expired last April and was not renewed.  Did yours expire in July and was not renewed?  What action are you taking?

Have a look at www.marbella-lawyers.com for info on bank guarantees. They state that the law 57/68 which created bank guarantees in 1968 states that the BG does not have an expiry date. It is valid until the LFO is issued. If the date of completion of the development has passed whithout completion you can execute the BG.

this bank was the more difficult of our two to cash in, someone always on holiday etc etc.

I believe our lawyer threatened legal proceedings of some type and they soon paid up - not sure the exact details though, you would need to ask them!

We used Victor at MAM Solicitors (Vera branch) - which is just across the square from the caja murcia branch - handy !!

www.mamsolicitors.com if you want more information, speak excellant english.

hope all ends well.

We know what is being said regarding expiry dates on bank guarantees, but to be honest, if banks are not paying out on current guarantees, what change have we got with an expired guarantee?  Has anybody ever heard of a case being won (and paid out) with an expired guarantee?

I can't recall one case I'm afraid and have been reading this site for 3 years

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