n Without Prejudice - Demand guarantees and parent company guarantees : financial law
|Article Title||Demand guarantees and parent company guarantees : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Nov 2014|
|Pages||20 - 21|
Demand guarantees and parent company guarantees are a common form of security in limited recourse finance, project finance and other finance transactions. Their intent is to provide a certain degree of security to the beneficiary in respect of the obligations assumed by the principal or subsidiary under the relevant contract. They afford the beneficiary recourse to the issuer in respect of any shortfall in the performance of the principal or subsidiary under the relevant contract.
Article metrics loading...