Independent bank guarantees as protection against breach of contract in international trade

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dc.contributor.advisorHare, John
dc.contributor.authorSchelenz, UIf
dc.date.accessioned2026-05-19T09:33:31Z
dc.date.available2026-05-19T09:33:31Z
dc.date.issued2001
dc.date.updated2026-05-19T09:27:57Z
dc.description.abstractIndependent bank guarantees are commonly used in international trade as protective means in order to ensure that the underlying obligation is properly fulfilled. These guarantees take a number of different forms and are often interlinked in one and the same major international transaction. It is essential for the participants to know about the operation of bank guarantees and to be aware of the risks involved. Frequently the parties' attention is taken up with negotiation of the substantive contract and insufficient time is allocated for consideration of the text of the guarantee. As an international businessman of a major company and former European counsel to Citibank emphasizes, 'there is a widespread but erroneous belief that employers never call these guarantees'. 1 Accordingly, insufficient effort is made to negotiate them and useful protective measures are not incorporated.
dc.identifier.apacitationSchelenz, U. (2001). <i>Independent bank guarantees as protection against breach of contract in international trade</i>. (). University of Cape Town ,Faculty of Law ,School For Advanced Legal Studies. Retrieved from http://hdl.handle.net/11427/43239en_ZA
dc.identifier.chicagocitationSchelenz, UIf. <i>"Independent bank guarantees as protection against breach of contract in international trade."</i> ., University of Cape Town ,Faculty of Law ,School For Advanced Legal Studies, 2001. http://hdl.handle.net/11427/43239en_ZA
dc.identifier.citationSchelenz, U. 2001. Independent bank guarantees as protection against breach of contract in international trade. . University of Cape Town ,Faculty of Law ,School For Advanced Legal Studies. http://hdl.handle.net/11427/43239en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Schelenz, UIf AB - Independent bank guarantees are commonly used in international trade as protective means in order to ensure that the underlying obligation is properly fulfilled. These guarantees take a number of different forms and are often interlinked in one and the same major international transaction. It is essential for the participants to know about the operation of bank guarantees and to be aware of the risks involved. Frequently the parties' attention is taken up with negotiation of the substantive contract and insufficient time is allocated for consideration of the text of the guarantee. As an international businessman of a major company and former European counsel to Citibank emphasizes, 'there is a widespread but erroneous belief that employers never call these guarantees'. 1 Accordingly, insufficient effort is made to negotiate them and useful protective measures are not incorporated. DA - 2001 DB - OpenUCT DP - University of Cape Town KW - Bank KW - International trade LK - https://open.uct.ac.za PB - University of Cape Town PY - 2001 T1 - Independent bank guarantees as protection against breach of contract in international trade TI - Independent bank guarantees as protection against breach of contract in international trade UR - http://hdl.handle.net/11427/43239 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/43239
dc.identifier.vancouvercitationSchelenz U. Independent bank guarantees as protection against breach of contract in international trade. []. University of Cape Town ,Faculty of Law ,School For Advanced Legal Studies, 2001 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/43239en_ZA
dc.language.isoen
dc.language.rfc3066eng
dc.publisher.departmentSchool For Advanced Legal Studies
dc.publisher.facultyFaculty of Law
dc.publisher.institutionUniversity of Cape Town
dc.subjectBank
dc.subjectInternational trade
dc.titleIndependent bank guarantees as protection against breach of contract in international trade
dc.typeThesis / Dissertation
dc.type.qualificationlevelMasters
dc.type.qualificationlevelLLM
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