Demand guarantees in the construction industry

A comparative legal study of their use and abuse from a South African, English and German perspective

von Karl Marxen

355 Seiten, Hardcover

Kurzbeschreibung des Verlags

Independent guarantees, payable on demand (so-called demand guarantees) are the preferred security instruments in complex construction and infrastructure projects. To the beneficiary, demand guarantees offer immediate access to cash without having to prove breach of contract, (insufficient) performance, damages, or the extent thereof. Due to the independent nature of demand guarantees, there is a risk of abusive or fraudulent calls. This comparative study analyses, in depth, the use of such guarantees in the construction industry, and the legal situation in South African, English, and German law regarding abusive calls on demand guarantees. The book explores typical scenarios in construction, and illustrates measures to prevent or mitigate abusive calls. The book speaks to practitioners working in construction or the financing of construction (such as construction professionals, bankers, attorneys), and to academics and students who have an interest in advanced studies of construction and construction law, demand guarantees, and finance.

• Reihe: Studien zum Handels-, Arbeits- und Wirtschaftsrecht
• Themen: Recht Rechtswissenschaft, allgemein Rechtsvergleichung
• ISBN: 9783848751136
• Sprache: Englisch
• Erscheinungsdatum: 30.10.2018
• Größe: 22.7 x 15.3 cm
• Verlag: Nomos