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Lloyd's Maritime and Commercial Law Quarterly

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.


CASE AND COMMENT

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