Section 686
Statutory text (Thai original)
แก้ไขเพิ่มเติมโดยพระราชบัญญัติแก้ไขเพิ่มเติมประมวลกฎหมายแพ่งและพาณิชย์ (ฉบับที่ ๒๐) พ.ศ. ๒๕๕๗ [26]
Verbatim from the Royal Gazette / Office of the Council of State
Firm annotation
Section 686 is part of Book 3 (Specific Contracts) of the Thai Civil and Commercial Code. This entry is awaiting firm-authored commentary; the statutory text above is verbatim from the Office of the Council of State (OCS Krisdika) Thai source, with the English translation from the FAO/UN FAOLEX repository. Always rely on the Thai original for legal proceedings.
Why this matters in practice
Lawyers: Creditors must diary the 60-day notification deadline immediately upon a debtor's default. Failure to give timely notice does not release the surety from the principal obligation but prevents the creditor from claiming interest and penalties for the delayed period. Laypeople: As a guarantor, if the borrower defaults and the bank does not notify you within 60 days, you are not responsible for the extra interest and penalties during that time.
Legislative history
Amended by the Civil and Commercial Code Amendment Act (No. 20) B.E. 2557 (2014), which introduced a mandatory creditor-notification requirement: the creditor must notify the surety in writing within 60 days of the debtor's default, failing which the surety's liability for interest and damages accruing during the delay is suspended.
Supreme Court decisions interpreting this section
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Supreme Court Judgment No. 3551/2541 (1998)
Notice given by a duly authorised officer of the creditor is effective notice to the debtor and surety.
The bank's deputy manager, acting under a valid power of attorney from the bank's managing director, had authority to give notice to the debtor for collection purposes. The court confirmed the notice given by a duly authorised officer binds the bank and is effective against the debtor.
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Supreme Court Judgment No. 6023/2538 (1995)
A surety's obligation becomes enforceable once the principal debtor's default is established; the creditor may then proceed against the surety.
A surety who guaranteed a government scholarship recipient's obligation to return and serve agreed to pay the penalty if the principal defaulted. When the principal failed to return, the creditor was entitled to enforce against the surety after the principal's default was established.
Curated decisions with case numbers verified against the Supreme Court database. English renderings are the firm's editorial translation for study.