THE COURT FOUND THE PUNITIVE CONDITIONS OF THE BANK GUARANTEE LAWFUL

A state contract was concluded between the principal and the beneficiary to ensure the fulfillment of obligations, under which a bank guarantee was provided by the bank. The terms of the guarantee provided for the payment of remuneration by the principal, as well as a number of restrictive conditions (covenant), for violation of which the payment of additional remuneration was provided.

Based on the fact that the principal violated the terms of the guarantee, the bank filed a claim for payment of additional remuneration, in response to which the principal filed a lawsuit challenging the terms of the bank guarantee.

The courts of two instances satisfied the claim, the cassation canceled the judicial acts, refusing to satisfy the claim.

The district Court noted the following:

"The disputed agreement was concluded on the terms agreed by the parties. The plaintiff, being a professional participant in the construction market and considering himself a bona fide counterparty, was aware of the legal consequences of this agreement. The conclusion of such a contract corresponds to the interests of both the defendant, who receives remuneration, and the plaintiff, who carries out business activities with increased risk and, in certain cases, is responsible for non-fulfillment of obligations."

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