Demand guarantees in the construction industry

A comparative legal study of their use and abuse from a South African, English and German perspective

Karl Marxen (Autor)

Buch | Hardcover

355 Seiten

2018
Juta Legal and Academic Publishers (Verlag)
978-1-4851-2827-4 (ISBN)

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Independent guarantees, payable on demand (so-called demand guarantees) are the preferred security instruments in complex construction and infrastructure projects. To the beneficiary, demand guarantees offer immediate access to cash without having to prove breach of contract, (insufficient) performance, damages, or the extent thereof. Due to the independent nature of demand guarantees, there is a risk of abusive or fraudulent calls. This comparative study analyses, in depth, the use of such guarantees in the construction industry, and the legal situation in South African, English, and German law regarding abusive calls on demand guarantees. The book explores typical scenarios in construction, and illustrates measures to prevent or mitigate abusive calls. The book speaks to practitioners working in construction or the financing of construction (such as construction professionals, bankers, attorneys), and to academics and students who have an interest in advanced studies of construction and construction law, deals and guarantees, and finance.

Introductory matters; The construction context; Demand guarantees in general legal perspective; Demand guarantees in the construction industry; The abuse of, and other problems relating to, demand guarantees in the construction industry; Documentary compliance, identity of the parties, and other defences based on the guarantee and its terms; Negative stipulations in the underlying contract; Recommendations and measures to counter abusive calls on demand guarantees in the construction context; Bibliography.

Erscheinungsdatum	18.01.2019
Verlagsort	Kenwyn
Sprache	englisch
Maße	148 x 210 mm
Gewicht	500 g
Themenwelt	Recht / Steuern ► Allgemeines / Lexika
Themenwelt	Recht / Steuern ► EU / Internationales Recht
ISBN-10	1-4851-2827-7 / 1485128277
ISBN-13	978-1-4851-2827-4 / 9781485128274
Zustand	Neuware