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.
Further to prior reporting and analysis in DCW, New York Governor Kathy Hochul signed into law updates to New York’s Uniform Commercial Code (UCC) on 5 December 2025.
Read the full story
Sign up
now to read the full story and get access to all posts for
paying subscribers only.
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.