(Ordinance n ° 2005-429 of May 6, 2005 art. 46 Official Journal of May 7, 2005)
Credit institutions that have granted financial assistance to a company, subject to the guarantee by a natural person or a legal person, are required no later than March 31 of each year to inform the surety of the amount of the principal and interest, commissions, costs and accessories remaining to run on December 31 of the previous year in respect of the obligation benefiting from the surety, as well as the term of this commitment. If the engagement is for an indefinite period, they recall the right of revocation at any time and the conditions under which this is exercised.
Failure to complete the formality provided for in the previous paragraph entails, in the relationship between the surety and the institution bound by this formality, forfeiture of interest accrued from the previous information until the date of communication of the new information. . The payments made by the principal debtor are deemed, in the relationship between the surety and the institution, primarily allocated to the payment of the principal of the debt.