Drilling Down: Oil Prices and Innovation

Some economists have recently predicted that it not be until the third fiscal quarter 2015 that oil prices may begin to stabilize (for example, see ATB Financial’s Alberta Economic Outlook Q2 2015, published March 31, 2015).  ATB Financial predicts, however, that the price stability will begin at around $50 per barrel rather than at the […]

New alternative dispute resolution (ADR) method in Italy

New conflict resolution method, in addition to the already existing mediation, through settlement negotiation before referring disputes to Courts has been recently introduced in the Italian legal system.13.12.2014 – With Decree no. 132/2014 the Italian Government has enacted specific provisions in order to reduce the workload of the Italian civil courts mainly through (i) the […]

The FIDIC White Book

Do Engineers Get off Lightly? FIDIC’s series of Contracts includes one that is a little less known. This is theClient/Consultant Model Services Agreement known as the White Book.Some cynics say that in this contract, FIDIC has departed from its normal standard –of striking a fair balance between the two parties, and has instead veered to […]

On-demand guarantees governed by Italian Law in international construction projects – BDA – Studio Legale

Guarantees (either on first demand or conditional) are standard practice in international construction projects. Often the wording of the guarantee does not allow a clear understanding on whether the parties have agreed to put in place a conditional bond or instead an unconditional and on-demand guarantee and this is the source of usually complex disputes […]

BDA – Studio Legale – International Construction Law Review on i-law.com

ON-DEMAND BONDS: A REVIEW OF ITALIAN AND ENGLISH DECISIONS ON FRAUDULENT OR ABUSIVE CALLING GIUSEPPE BROCCOLI Partner at BDA Studio Legale, Milan AND LAUREN ADAMS Barrister, Atkin Chambers, London INTRODUCTION Irrevocable undertakings made by a bank or commercial provider to pay a named beneficiary on the beneficiary’s simple demand have a well-established presence in the […]