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.
Beyond questions on the rule of strict construction of LC terms, the In re Spiegel case should engender a discussion of the requirements of UCP vs. ISP on what certified means with respect to a government or court-issued document.
After an adverse judgment levied civil sanctions against Marshall Spiegel (Debtor) for vexatious and abusive litigation practices, Debtor/Applicant applied
