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On 10 July 2020, the Luxembourg Parliament (Chambre des Députés) adopted a new law relating to professional payment guarantees.
The law introduces a special regime for personal guarantees granted in a professional context among parties who wish to benefit from greater contractual freedom in determining the features and the legal consequences of a guarantee.
More detailed information on the law can be found in our related article "Professional Guarantees" published on our website.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
