First Demand Guarantees

The legal principle characterising first demand guarantees, arising from international trade, is that of their independence from the underlying relationship, to meet the needs for security and fluidity of commercial transactions. Such principle can nevertheless give rise to cases of abuse and the aim and objectives of the book are to investigate these cases and the remedies offered in English and Italian law, and if such remedies are adequate, weak or excessive, with particular regard to the relevance of fraud and illegality. Finally, through the use of appropriate methodological tools, the work proposes an interpretation aimed at finding a clear point of balance between the needs involved.