Bank Guarantees are a common feature of international construction contracts. Bank Guarantees are typically used as a security for one party’s (usually the contractor’s) performance of its contractual obligations. Bank Guarantees frequently play a central role in construction disputes as well – either as an important aspect of background facts of the dispute or as […]
Dispute Boards and International Construction Arbitration
1. What Is a Dispute Board? Dispute boards[1] are often found in large construction projects[2] to assist parties in resolving or avoiding disputes and, ideally, preventing such disputes from escalating to international construction arbitration.[3] Dispute boards are purely a creature of contract. This means that normally there will be no supporting statute to regulate the […]
Aceris Law’s Client Awarded USD 8.2 Million in SIAC Arbitration under Singapore Law
Aceris Law is pleased to announce that it has assisted another client in succeeding upon its claims, in a decisive manner, in a SIAC arbitration taking place under Singapore law against the subsidiary of a large, publicly-listed company. The dispute, which had its seat in Singapore, concerned, inter alia, variation claims and claims for prolongation […]
COVID-19 and Construction Disputes: Claims for Time and Money
The spread of COVID-19, also known as coronavirus, which was declared a global pandemic by the World Health Organization on 11 March 2020, has had a significant, in some cases disastrous, impact on virtually all areas of business globally. The construction industry is no exception. With a number of countries declaring a state of emergency […]
Prolongation Claims in Construction Arbitration: Heads of Costs That May Be Claimed
“Prolongation claims”, sometimes known as “delay claims”, are a common feature of construction disputes. The expression “prolongation claim” or “delay claim” is generally used to describe a monetary claim which follows from a delay to project completion. These claims should be distinguished from a “disruption claim”, which is generally used to describe a monetary claim […]