Writing as a trade finance professional with a long background in the business, Dave Meynell offers his personal views on factors contributing to the sharp reduction in ICC Official Opinions issued over the past several years.
In AXA v. Chiu Teng, Singapore’s top court confirms liability under a performance bond absent a prior ruling or admission of breach. The case highlights the importance of precise drafting and reinforces the binding nature of bond terms over labels like “guarantee” or “on-demand.”
