Sugar Australia Pty Ltd v Lend Lease Services Pty Ltd_

摘要

The respondent contractor agreed to design, construct, supply and install equipment as part of an upgrade to the appellant's facility. It provided bank guarantees for $4.19 million as security under the contract. Clause 5.2 of the contract provided that the security "shall be available to the Principal whenever the Principal may claim (acting reasonably) to be entitled" to the payment of monies or to certain other specified entitlements. The appellant was required to give written notice of its intention to have recourse.