Surrendered Bills of Lading
Excerpted from the DCW Executive Summary of the 2025 ICC Banking Commission Meeting ICC Draft Opinion TA949 Dealing with a
In AXA v. Chiu Teng, Singapore’s top court confirms liability under a performance bond absent a prior ruling or admission of breach. The case highlights the importance of precise drafting and reinforces the binding nature of bond terms over labels like “guarantee” or “on-demand.”
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