Authors: Patrick Geortay, Nicki Kayser, Melinda Perera, Eliane Dejardin Botelho

Luxembourg - The new Professional Payments Guarantee: contractual flexibility with legal certainty

"The law on professional payments guarantee (the “LPPG”) was adopted on 10 July, 2020. It is an attractive addition to Luxembourg’s growing arsenal of legal options for creditors seeking to protect their exposure to debtors. The LPPG, clearly and precisely outlined in just four articles and aims at creating a new flexible type of guarantee that benefits from legal certainty."

Patrick Geortay, Partner, Capital Markets and Banking