Given the success of practice rules and banks’ ability to more readily find resources for the proper interpretation of the rule sets, does it not make sense to avoid inclusion of a governing law or jurisdiction clause?
The recent case of Illinois DNR v. Regions Bank illustrates the importance of clear wording of automatic extension clauses and issuing banks including a final expiration date in their standbys.
Mark W. Warren is a Senior Vice President and Associate General Counsel of M&T Bank in Buffalo, New York. He previously worked for FDIC in New York City.
The Canadian Supreme Court affirmed Quebec appellate and trial courts, upholding permanent injunction restraining Counter-Guarantor against payment of demand by Counter-Guarantee Beneficiary.
![Eurobank Ergasias S.A. v. Bombardier Inc. [2024]](/content/images/size/w30/2024/08/eurobank-v-bombadier-court-case-dcw.jpeg)
