From our previous alerts, which can be found here and here, we know that bonds and guarantees are complex instruments, the consequences of which depend not on what they are called, but their terms, the...more
Introduction - The global demand for natural resources continues unabated. As revenues increase and profits soar in the face of this demand, there has been a resurgence of “resource nationalism” with resource-rich host states...more
Joint ventures and consortiums have become increasingly important as a medium through which international contractors can undertake significant projects. As producers, traders and owners seek to expand...more
The ICC Court of Arbitration is widely acknowledged as one of the leading international arbitration institutions, and ICC arbitration clauses are a common feature in contracts concerning international...more
What's in a name?
It has been said that a name is an artificial and meaningless convention. What matters is what something is, not what it is called. The same is true in the world of guarantees and on-demand...more
What is an "on-demand" bond?
In commercial transactions, bonds are frequently required as security for performance of contractual obligations. They are contracts which require the bondsman or surety to pay monies to...more