Section 35: Contracts relating to collateral or deposit

1) In case any person has obtained collateral while supplying credit to anybody as a security for that credit or obtained any property as a deposit in the form of a guarantee to perform the concerned work while having any work performed by a contract relating to collateral or deposit shall be deemed to have been concluded.

Explanation:  For the purpose of this Chapter, the term ‘property’ shall denote any movable or immovable property and title or document establishing title to that property.

2) In case a collateral has been obtained while supplying a credit, the credit and interest thereon, and in case any deposit has been obtained to perform any work, the other expenses relating to that work, as well as the expenses incurred for looking after the collateral or deposit, shall also be deemed to have been included in the contract relating to collateral or deposit.