MUR Joint Ventures BV v Compagnie Monegasque de Banque

Bank – Guarantee. The Commercial Court gave judgment in favour of the claimant on its claim for US$500,000 plus interest, under a demand guarantee issued by the defendant bank. The court, in rejecting the bank's submissions that the claimant's demands under the guarantee had not complied with the requirements of the guarantee, held that the doctrine of strict compliance did not necessarily apply to demand guarantees.

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