Cancellation of contract

Our Spanish Solicitor has recently executed our Bank Guarantee for us and we have received the money back into our account.This was carried out as the off-plan property we had signed the contract for  had not been completed due to a problem with the planning licence.
Can anyone tell me if, once the Bank Guarantee has been executed, there is anything further I need to do to bring this matter to an end. ie: do I have to actually cancel the contract in writing or, by executing the bank guarantee does this automatically cancel the contract. My fear is, years into the future that the company will suddenly sue me for breach of contract because I have not actually signed anything to show our cancellation of the contract.

Barry Trodd

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Firstly , Congratulations on getting your money back.! The BG automatically ceases once executed.  Your Lawyer should tie up any loose ends. We've been through the same situation..

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Thanks for the congratulations. It did take some time to get the money back and involved changing my original solicitor.The first solicitors(tied up with the developer I suspect) told me I could not get the money back as it was not the developers fault that the licences had been withheld.The new solicitors told me,  that was not true and duly executed the bank guarantee for me following my decision to go for a return of my money rather than spend more money taking the developer to court to try to claim compensation.
Even this new solicitor is not now answering my many E-Mails,( since I have now paid him his fee), asking whether I need to tie up any loose ends. That is the reason,due to his lack of response to my question, that I posted this question on this forum.  

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Barry, it's done and dusted. Enjoy your new stress free life...for a while!

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Dear BarryTrodd:

Has not the Bank issue a  certificate saying that they have  refunded the money by honouring that Guarantee? Ask the Bank to do it for your records.

Anyhow, rest calmly as just  a photocopy of the the check and the Bank Guarantee will cover you enoughly in that future scenario that you are describing.

Best regards,

Maria L. de Castro

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Hi Tish,

Thanks for your advice.

Hi Maria,

Thakyou for your comments to. It a relief that there is at least one solicitor in Spain that will give a free piece of advice without a thought of charging for the information. More than I can get from my own solicitor at this time.

Regards

Barry

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