Marxen, K (2017) Demand guarantees in the construction industry: A comparative legal study of their use and abuse from a South African, English and German perspective. LLD thesis, University of Johannesburg, South Africa.
Abstract
Despite the seemingly numerous situations in which grossly unfair calls on demand guarantees may typically occur, the utilisation and inclusion of guarantees into construction contracts is still advantageous and recommended. As pointed out above, only demand guarantees offer assured and swift access to cash when construction defects emerge, payment is outstanding, or a construction party becomes insolvent or is liquidated. At the same time, demand guarantees are relatively simple instruments, versatile and internationally-accepted, and do not necessarily require the applicant to deposit cash or otherwise tie up capital whilst in operation. Therefore, demand guarantees are an indispensable feature in construction contracts of certain complexity and value.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Hugo, C F |
| Uncontrolled Keywords: | complexity; guarantees; payment; demand guarantee |
| Index terms: | guarantee, complexity, demand guarantee, construction defect, construction industry, construction contract |
| Subjects: | contract structure, industry analysis, systems engineering, contract obligations, contract type, economic analysis |
| Topics: | Procurement, Engineering Principles, Legal Issues, Business Strategy, Research Practice |
| Descriptive scope: | 3 PCT |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here