Standby letters of credit are a type of letter of credit. The common feature of all letters of credit is an undertaking by a bank to pay the beneficiary of the letter of...
Comfort letters are encountered in finance transactions relatively often. They take different forms and it is important from both the lender's perspective and the...
The terms security and quasi-security are frequently used in relation to finance transactions. This Practice Note considers the term security in the context of security...
Guarantees are typically used in banking transactions as a form of collateral for a debt. In such circumstances, they are a contractual arrangement where one party (the...
This Practice Note examines: • why negative pledge clauses are used in commercial transactions • the consequences of breaching negative pledge provisions • how negative...
In finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The confusion comes from the fact...
This Practice Note deals with on demand guarantees and bonds. (It does not deal with conditional guarantees and bonds which are usually provided by insurance companies...
This Practice Note considers retention of title clauses, also known as reservation of title, ROT or Romalpa clauses. It considers the uses and limitations of retention of...
Set-off is a complex yet important concept in legal proceedings generally and for many different types of transaction. Independent set-off and transaction set-off can...