excussion definition

excussion means that Supplier may proceed directly against the Surety, does not have to proceed against the principal debtor first i.e. Company / Close Corporation;
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excussion. , which means that you are not entitled to demand that the Company first exhausts its legal remedies against the Debtor before it can claim payment from a Surety;
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Related to excussion

  • General Condition means these General Terms and Conditions of Contract.

  • General Conditions means the “International Development Association General Conditions for Credits and Grants”, dated July 1, 2005 (as amended through October 15, 2006).

  • Special Conditions means Special Conditions of Contract, which override the General Conditions, also referred to as SCC.

  • Special Condition means a condition of a Transporter's Licence or Shipper's Licence other than a Standard Condition;

  • Disclosure Undertaking means the Continuing Disclosure Undertaking, dated as of the Dated Date, relating to certain obligations contained in the SEC Rule.