The Modern Contract of Guarantee ( 4th Edition )

The Modern Contract of Guarantee by O’Donovan and Phillips is a comprehensive and authoritative examination of the law relating to guarantees and suretyship. The Fourth English Edition provides detailed analysis of formation of guarantee contracts, interpretation of guarantee clauses, co-extensive liability of surety, discharge of surety, variation of underlying contracts, and remedies available to creditors.

The book also addresses banking guarantees, performance bonds, indemnities, demand guarantees, and complex commercial financing arrangements. Supported by extensive case law and practical illustrations, it explains risk allocation between creditor, principal debtor, and guarantor.

Published by Sweet & Maxwell, this treatise is widely used by banking lawyers, insolvency practitioners, commercial litigators, and corporate counsel. It offers practical drafting guidance and strategic insight for handling disputes relating to enforcement of guarantees and financial security instruments. For professionals dealing with high-value financial transactions, this book serves as an indispensable reference.