first demand
[/fɜːrst dɪˈmɑːnd/]
noun phrasepl: first demands
à primeira solicitação
1. A clause in financial or legal documents stating that payment or performance must be made immediately upon request, without requiring proof or justification
The letter of credit is payable at first demand, meaning the bank must pay as soon as the documents are presented.
A carta de crédito é pagável à primeira solicitação, significando que o banco deve pagar assim que os documentos forem apresentados.
2. An unconditional obligation to pay or perform without delay
The guarantee is on a first demand basis, requiring immediate settlement.
A garantia é à primeira solicitação, exigindo liquidação imediata.
This is primarily a financial and legal term used in international commerce, banking, and contract law. It is especially common in letters of credit and bank guarantees in both Brazilian and American business contexts. The term reflects the principle of unconditional, immediate payment in high-value transactions to protect creditors.
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