When can a party restrict the use of an unconditional performance guarantee?
Mondaq Business Briefing › Nbr. 2011, January 2011
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When can a party restrict the use of an unconditional performance guarantee?
Key Points:
Courts prefer to interpret security instruments in their commercial context When a party to a contract can restrict another party from calling upon the benefit of a performance guarantee has again been the subject of proceedings in the Federal Court of Australia. The Federal Court has reaffirmed Clough Engineering Limited v Oil & Natural Gas Corporati...See the full content of this document
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