Bonds and Guarantees - the Meaning of "On Demand"
- Podcast Location:
- Download it here [file size: 24.7 MB]
- Categories:
-
Commercial Law
Banking and Financial Services
Construction, Procurement & Outsourcing
Commercial Property
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- Up to 1 point. details »
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- Length:
- 30 minutes of audio
(+ optional 5 minute online quiz) - Plays on Computer:
- Yes Downloadable as MP3: Yes
- Contributor(s):
- Course Aims:
This podcast aims to give the listener an overview of the law regarding bonds, indemnities and guarantees. The commonly used language with regard to these terms and the differences between them is explored. The podcast then examines the case of Vossloh Atkiengesellschaft v Alpha Trains and assesses the impact this case will have on this area of law.
- Outcomes:
- After completing the course you will:
- Understand the characteristics of a guarantee, an indemnity and a bond;
- Recognise the difference between a guarantee and an indemnity;
- Appreciate the circumstances in which an indemnity may be preferable to a guarantee and vice versa;
- Understand the definition of a performance bond;
- Distinguish between a performance bond and a guarantee;
- Be aware of the impact of the Vossloh case;
- Know the other key cases that have considered this area of law.
- Level:
- Complex
- Classification:
-
Case Update
Legal Principles
- Sources and References:
-
- Anthony Pitts and Others v Andrew Jones 2007] EWCA Civ 1301;
- Carey Value Added , SL v Grupo Urvasco, SA [2010] EWHC 1905;
- Fransina Johanna van der Merwe and Gerrit le Roux van der Merwe v IIG Capital LLC [2007] EWCA Civ 542;
- Holme v Brunskill [1877] 3 QBD 495;
- IIG Capital LLC v Van Der Merwe & Anr – [2008] EWCA Civ 542;
- Vossloh Aktiengesellschaft v Alpha Trains (UK) Ltd [2010] EWHC 2443 (Ch);
- Statue of Frauds 1677.
In this podcast, Jeremy Glover, a partner at construction specialist law firm Fenwick Elliott gives an overview of the law regarding bonds and guarantees in light of the recent decision in Vossloh Aktiengesellschaft v Alpha Trains [2010].
Podcast added: 18/01/2011
Podcast last reviewed: 2011-07-19
