New Reclamation Group (Pty) Ltd v Tansnet SOC Ltd and Another (2018/16394; 2018/18284)
New Reclamation Group (Pty) Ltd v Tansnet SOC Ltd and Another (2018/16394; 2018/18284) [2018] ZAGPJHC 431 (23 May 2018)
The court held that the applicant, not being a party to the guarantee, cannot prevent payment under the guarantee by the second respondent to the first respondent when all formal requirements are met and no fraud is alleged. The guarantee is autonomous and independent of the underlying contract, and disputes between the applicant and the first respondent do not affect the enforceability of the guarantee. The urgent interim interdict previously granted was not legally sustainable, and the applicant did not have a prima facie right to such relief. The court exercised its discretion under Rule 6…
Source excerpt
- Performance Guarantee
- Interim Interdict
- Rule 6 12 C
- Contractual Independence
- Fraud Exception