Dear Friends!
The Bank Guarantee has been issued in the name of "Managing Director" of ABC Company. The Bank Guarantee has been invoked by "Technical Director" of the ABC Company. The Bank has honoured the invocation of BG and paid amounts
Whether the "Technical Director" of ABC Company can invoke the BG in place of "Managing Director" as beneficiery of the BG? BGs are not Negotiable instruments. They are mortagages. How the Bank honour the invocation by a person, whose name is not mentioned in the BG? Is it possible?
