Bank Guarantees in International Trade:The Law and Practice of Independent (First Demand) Guarantees and Standby Letters of Credit in Civil Law and Common Law Jurisdictions

A number of practical implications and issues can arise in the daily functioning of independent (first demand) guarantees and standby letters of credit. Bank Guarantees in International Trade provides a comprehensive, highly readable study of the legal and practical aspects and implications of these instruments, broadening the reader s understanding of the law on the subject. This work comprises all reported case law from the Netherlands, Germany, France, the United Kingdom, and Belgium and also takes into account the law in certain other European countries and the United States. Bank Guarantees in International Trade examines the governing law of bank guarantees in numerous regions, particularly within the Middle East and North Africa. The Appendix includes, among other materials, the text of the 1992 ICC Uniform Rules for Demand Guarantees, the 1995 UNCITRAL Convention, and many sample texts. Its transnational perspective enhances the value of this work, making it useful in other jurisdictions. This second edition contains thoroughly revised, updated, and amended material which reflects new developments in the law and changing patterns in practice and accounts for the introduction of new techniques and problem areas. Bankers and lawyers in particular will find Bank Guarantees in International Trade an insightful and informative work.