With the challenging economic conditions facing the construction industry, there is an increasing number of calls being made on contractor and subcontractor performance bonds. Join the ADG team to learn more on how to properly encash a performance bond or resist the performance bond being called and the risks. Topics covered include:
- When can a performance bond be encashed – what is the test to meet and how can a call on the bond be challenged?
- Resolving the confusion between governing law of the contract, the arbitration agreement and the bond
- Understanding the differences between local court and DIFC or ADGM options for getting relief
- What are your options where you have agreed to arbitration – are you stuck with the arbitral tribunal?