Demand Guarantees: Operation, Enforcement and the Autonomy Principle

Demand Guarantees: Operation, Enforcement and the Autonomy Principle explains both the practical use and theoretical aspects of demand guarantees. It examines the fundamental principle of autonomy upon which demand guarantees operate in international trade and construction projects.

Drawing upon the contractual doctrine of freedom of contract and public policy reasons justifying the judicial intervention in the enforcement of demand guarantees, this book considers the extent to which judicial intervention, through exceptions to the principle of autonomy, can be recognised and justified.

The author provides a comparative examination of the relevant legal position in Australia, the United Kingdom, Singapore, Malaysia, India and Sri Lanka, with detailed analysis of the extracts from leading cases and the International Chamber of Commerce Uniform Rules for Demand Guarantees (URDG 758).

It provides an ideal resource for practitioners and students in the field of international trade law or construction contracts.

The key topics covered include:
     •     the principle of autonomy
     •     the fraud exception
     •     the unconscionability exception
     •     interim injunctions
     •     justifications for judicial intervention

Features
     •     Comprehensive discussion of fraud and unconscionability as exceptions to the autonomy of demand guarantees 
     •     Identifies the requirements for granting interim injunctions restraining fraudulent and unconscionable demands 
     •     Provides policy and theoretical justifications for judicial intervention in the enforcement of demand guarantees.
     •     Includes comparative analysis of recent legal developments in Australian, England, Singapore, Malaysia, India and Sri Lanka.