Befähigungsprüfung Bauträger Practice Questions - Austria Befähigungsprüfung Bauträger (Property Developer Licensing Examination) Exam

It must be an unconditional, abstract guarantee (Garantie) payable on first demand issued by a credit institution or insurance company licensed to conduct business in Austria It may be a conditional surety (Bürgschaft) that allows the guarantor to dispute the claim until final court litigation concludes It only needs to cover 50% of the purchaser's advance payments if the developer provides private promissory notes It can be issued by any offshore financial intermediary without regulatory oversight in the European Union