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.
Pavel Andrle is an international trainer and consultant. He is the founder of Trade Finance Consulting, s.r.o., www.tradefinanceconsulting.com. He can be reached at: pa@cmail.cz.
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.
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