n Without Prejudice - On demand bonds : any comfort for contractors? : financial law

Volume 13, Issue 9
  • ISSN : 1681-178X



In large construction contracts, employers often require that contractors provide "on demand" bonds as security for the proper performance of their contractual obligations. Normally issued by a bank, these bonds can be called by an employer upon written demand, without proof that a contractor is in default or of the loss the employer has suffered.

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