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.
ARSS – SIPS (JV) v. Union of India involving the seeking of an injunction on payment under a performance guarantee was heard by the Honourable Shri Sanjay K. Agrawal and Shri Arvind Singh Chandel of the High Court of Chhattisgarh at Bilaspur.
