On Demand Guarantees and Letters of Credit
This seminar considers a number of topical issues relating to guarantees and letters of credit, ranging from drafting issues, categorization, jurisdiction, authority and the availability of injunctions to restrain payment.
Issues for discussion
The distinction between guarantees and indemnities as illustrated by recent case law
A banker’s perspective on drafting issues, traps for the unwary under ICC’s Uniform Rules for Demand Guarantees ( URDG 758 ) and guarantees forming part of a framework
Jurisdiction and authority issues, including the circumstances in which parties to a guarantee may be bound by jurisdiction provisions contained in the underlying contract and issues concerning authority to enter into guarantees
Injunctions preventing payment under guarantees and letters of credit