Lloyd's Maritime and Commercial Law Quarterly

Professor Francis D Rose

Document

INTERNATIONAL GUARANTEES: BANKING ON INDEPENDENCE

Uzinterimpex v. Standard Bank

In Uzinterimpex J.S.C v. Standard Bank Plc 1 the Court of Appeal upheld the independence of a demand guarantee and declined to imply a term into it effectively precluding the beneficiary thereunder from drawing on it so as to effect double recovery.

1. [2008] EWCA Civ 819; [2008] Bus LR 1762; affg [2008] EWHC Civ 1151 (Comm); [2008] CLC 80.

CASE AND COMMENT

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