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.
A dispute involving an ISP98 standby and litigation in two jurisdictions raises a host of considerations. Here, Carter Klein comments on five facets of the Shinetec (Australia) Pty Ltd. v. The Gosford Pty Ltd Australian appellate court decision.
