n Without Prejudice - Guarantees - when words really matter : contract law

Volume 12, Issue 2
  • ISSN : 1681-178X



Contractors and employers alike tend to assume that banks and insurers who issue guarantees are experts in the consequences of the terminology that they employ in drafting guarantees. Very often these consequences can have unintended results for one of the parties. In the recent unreported decision of 2011 JOL 26880 (SCA), the Supreme Court of Appeal was called upon to interpret the nature of a performance guarantee and to determine the liability in terms of the guarantee.

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