LMA Quarterly Briefing Q1 2016: African Export-Import Bank and others v Shebah Exploration & Production Company Limited and others

In this briefing, the case of African Export-Import Bank v Shebah Exploration [2016] EWHC 311 (Comm) is looked at which raises the interesting question of whether there are circumstances in which ‘neutral’ industry standard documents can constitute a contractual party’s standard terms of business within the meaning of section 3 of the Unfair Contract Terms Act 1977 (UCTA). If so, this could have implications for the effectiveness of clauses that seek to exclude or limit liability for breach unless such clauses can be shown to satisfy the reasonableness test under s 11 UCTA. The case also looks at whether a notice of acceleration is valid if the acceleration is expressed to be conditional on future events.

Click here to read the briefing.

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