Guarantees, Bonds and Bunnies
A third party guarantee, whether given by banks or parent companies, is a very common legal instrument in supply agreements and project and construction work. But many people fail to understand the importance of the terminology used and how different types of “guarantee” arrangements can result in varying levels of liability. The main note this month deals with this point.
And, I am afraid an Easter Bunny EPC agreement is waiting for you on page 2 under “Miscellaneous.” Good luck.