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.
For the 19th consecutive year, IIBLP conducted its Americas Standby & Guarantee Forum. Held in New York City on 4 November 2025 and hosted by Baker McKenzie, the program was organized as a hybrid event. This Executive Summary provides an overview of key topics discussed and debated.
Retrial application dismissed in case involving a dispute over alleged fraud and application the PRC Independent Guarantee Provisions to a standby LC governed by ISP98.
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?