The Renaissance Club at Archerfield LLP v BVB Sureties Limited
Ted Lowery considers a case in which the surety argued that a performance bond demand included not enough and too much information.
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Ted Lowery considers a case in which the surety argued that a performance bond demand included not enough and too much information.
The fraud test for injuncting a bank from paying out on an On Demand Bond sets a high hurdle. However, the case law on injuncting the beneficiary of an On Demand Bond from making a call under the main construction contract itself has arguably eased the requirements in recent years. A new High Court decision in TTSJV v BapCo Refining B.S.C. has now reconciled the differing authorities and confirms that a seriously arguable breach of the underlying contract will not suffice to obtain an injunction. As Claire King explains, it now clear that such relief is only available where the right to call is clearly precluded by the underlying contract.
What is the correct legal test for challenging a call made against a bond?
Did the payment notice comply with the necessary statutory and contractual requirements? If it did not, what was the consequence?
August’s Dispatch looks at when you can challenge calls on bonds and the importance of getting the details of your payment application right.
Jeremy Glover reviews a recent Singapore case which considers the consequences of an ad hoc DAB declining to hear disputes referred under a FIDIC contract. The case provides useful guidance on when parties may proceed directly to arbitration.
Jonathan Clarke and Jake Marouane consider a Singapore case highlighting the risks of third-party funding, where substantial funding costs were held to be irrecoverable despite the claimants’ success.
Sana Mahmud examines a UK Supreme Court decision confirming that states party to the ICSID Convention cannot rely on adjudicative immunity to resist the recognition of arbitral awards in the UK.
Mark Pantry explores FIDIC’s Gold Book and its distinctive approach to integrating design, construction, operation and maintenance within a single contractual framework. He examines how the Gold Book allocates long-term risk, the practical challenges of pricing and managing operational obligations over extended periods and why, despite its focus on whole-life asset performance, it has seen only limited adoption compared with the other standard FIDIC forms.
Nicholas Gould and Alex Atherton examine the growing jurisdictional and enforcement challenges facing parties in disputes with Russian entities. Focusing on recent decisions from the Russian Supreme Court and the English courts, they consider the practical implications for dispute resolution and enforcement and highlight how parties can mitigate risks when contracting with parties based in the Russian Federation.
Sam Thyne provides an overview of the new ICC Arbitration Rules, and covers many of the key changes which together aim to make ICC arbitration faster and therefore more cost-efficient.
This issue explores the new ICC Arbitration Rules, challenges in disputes involving Russian entities, the FIDIC Gold Book, third-party funded arbitration and recent guidance on referring disputes to ad hoc DABs under FIDIC contracts.