A charge on real property, conferring a guarantee equivalent to a 1st ranking mortgage within the meaning of article L. 313-42, is one that gives the creditor, regardless of the debtor’s legal situation, the right to sell the property encumbered by this charge wherever it may be held and to be paid from the sale price in preference to other creditors.
For the purposes of 2° of I of article L. 513-3, eligible guaranteed loans are those for which a credit institution, finance company or insurance company with equity of at least 12 million euros is a joint guarantor.
The contract for the issue of bonds issued by a credit institution whose sole purpose is to refinance promissory notes complying with the provisions of articles L. 313-42 to L. 313-49 shall explicitly state: 1° The purpose of the mobilisation ; 2° The exclusive purpose of the issuing credit institution; 3° The exemption provided for in 2° of IV of article R. 214-21; 4° The privilege enjoyed by the issuing…
The issue by finance companies of the securities referred to in Articles L. 313-30 and L. 313-31 or the promissory notes referred to in Article L. 313-42 meets one or other of the following two conditions: 1° Subscription of securities issued pursuant to Articles L. 313-30 and L. 313-31 or promissory notes issued pursuant to Article L. 313-42 is reserved for persons providing portfolio management services on behalf of third…
Pursuant to article L. 313-50, the surety guarantee mechanism covers surety commitments granted by a credit institution or finance company authorised in France under: 1° Article 1799-1 of the Civil Code, Article 1 of Law no. 71-584 of 16 July 1971, as amended, designed to regulate the retention of guarantees in respect of works contracts as defined by 3° of Article 1779 of the Civil Code and Articles 13-1 and…
The following are excluded from any indemnification or assumption of liability by the surety guarantee mechanism: 1° Guarantee commitments made in favour of the following persons: a) Credit institutions, finance companies, portfolio management companies and investment firms, in their own name and on their own account; b) Insurance companies; c) UCITS and AIFs covered by paragraphs 1, 2 and 6 of sub-section 2, paragraph 2 or sub-paragraph 1 of paragraph…
Credit institutions and finance companies shall provide the beneficiaries of the surety undertakings referred to in article D. 313-26, as well as any person who so requests, with all relevant information on the surety guarantee mechanism, in particular the nature and extent of the cover offered.
Credit institutions and finance companies adhering to the surety guarantee mechanism must include the following statement in their surety bond contracts falling within the scope of articles D. 313-26 to D. 313-31 : “This commitment is covered by the surety guarantee mechanism mentioned in article L. 313-50 of the Monetary and Financial Code. “
Beneficiaries of the surety undertakings referred to in article D. 313-26 may obtain, on simple request to the Fonds de garantie des dépôts et de résolution, additional information on the conditions or deadlines for compensation as well as the formalities to be completed in order to be compensated.
Information intended for beneficiaries and documents relating to the conditions and formalities to be met in order to benefit from a payment under the surety guarantee mechanism are written in French, in a detailed and easily understandable manner.
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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