This month’s edition emphasizes how seemingly small drafting choices and operational decisions can lead to substantial legal and compliance
At its first quarterly discussion session of 2026 on 27 January, the ICC Banking Commission finalized ICC Opinion TA958rev. It
Following its January 2026 quarterly discussion session, the ICC released on 11 February 2026 results and points of analysis from
Applicant sued, claiming that demands on four performance bonds were unconscionable.
To secure its performance under four earth-works subcontracts regarding three distinct construction projects, Ryobi Tactics Pte Ltd. (Subcontractor/Applicant) obtained four performance bonds in favor of UES Holdings Pte Ltd. (Contractor/Beneficiary). AXA Insurance Pte Ltd. (First Issuer) issued one bond corresponding to the “Changi Project”, and Tokio Marine Insurance Singapore Ltd. (Second Issuer) issued three performance bonds corresponding to the Changi Project, the “Jurong Project” and the “Chestnut Project”. Cumulatively, the bonds were valued SGD 1,590,016.69.
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