BANK BUMIPUTRA (MALAYSIA) BHD v SURIA JAYA SDN BHD & ORS
- Citation
- BANK BUMIPUTRA (MALAYSIA) BHD v SURIA JAYA SDN BHD & ORS
- Court
- Malaysian court
The guarantee was an irrevocable on‑demand guarantee delivered to the beneficiary and the bank was bound to pay on Petronas's written demand; the bank could not treat the guarantee as cancelled by the borrower. The bank is entitled to recover the sum paid from the borrower under the express indemnity and recovery provisions of the loan agreement.