Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
For the 19th consecutive year, IIBLP conducted its Americas Standby & Guarantee Forum. Held in New York City on 4 November 2025 and hosted by Baker McKenzie, the program was organized as a hybrid event. This Executive Summary provides an overview of key topics discussed and debated.
In Eurobank Ergasias S.A. v. Bombardier Inc., the Supreme Court of Canada takes up the fraud exception and whether it applies regarding a demand for payment under a Counter Guarantee.
A Singapore court case highlights critical pitfalls in handling demand guarantees. This article unpacks lessons for bankers on documentation, fraud risk, counter-guarantees, and navigating complex cross-border disputes.
A DCW reader asked about the impact of a specific clause in a counter guarantee issued by a US bank under ISP98 and Saudi law. This clause raises concerns about the presentation of documents and potential payment restrictions.
The lack of a common nomenclature for counter undertakings invites problems for practice and has plagued the industry for decades.
It doesn't have to be this way.
