Roko Construction Limited v Aga Khan University and Another (Misc Cause No. 15 of 2022)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Court declined to restrain encashment of an unconditional on-demand performance guarantee pending arbitration. An unconditional guarantee requires only written demand by the beneficiary stating breach; the guarantor is duty-bound to pay without proof of default. The applicant failed to prove fraud to the requisite standard. Lack of bank confirmation of signature authenticity does not constitute fraud but at most a contractual breach remediable in arbitration. The applicant's alleged losses were speculative and compensable in damages. Balance of convenience favoured the beneficiary who had already extended the guarantee beyond the completion date.
Outcome
Interim injunction set aside; respondent at liberty to call on the performance guarantee
Facts
Roko Construction Ltd entered a contract dated 28 May 2019 with Aga Khan University to construct a mockup building. Absa Bank issued an unconditional performance guarantee of USD 88,637.90 for the applicant's benefit. The contract contained an arbitration clause requiring disputes to be referred to ICC arbitration after issuance of a taking over certificate. By addendums dated September 2020 and December 2021, the first respondent took over direct payment of suppliers and subcontractors. The performance guarantee was extended from February 2021 to 30 July 2022. On 25 April 2022 the first respondent made written demand on the bank stating the contractor failed to complete works by the stipulated date despite extensions. The applicant obtained an interim order restraining encashment and applied for a permanent interim measure pending arbitration, alleging fraud and irreparable harm.
Issues
- Whether the court should grant an interim measure of protection restraining encashment of an unconditional performance guarantee pending arbitration.
- Whether the applicant established fraud sufficient to prevent encashment of the performance guarantee.
- Whether the applicant would suffer irreparable injury if the performance guarantee was cashed.
Orders
- Application dismissed with costs.
- Interim measure of protection issued on 13th May 2022 set aside.
Rules and key headnotes
Legislation cited (4)
- Arbitration and Conciliation Act s.6
- Arbitration and Conciliation Act First Schedule Rule 13
- Judicature Act s.33
- Civil Procedure Act s.98
Cases cited (6)
- Pan-Afric Impex (U) Ltd v Barclays Bank PLC and Absa Bank Ltd (MA No. 804/2007)
- AC Yafeng Construction Limited v Registered Trustees of Living Word Assembly Church (MA No. 01/2021)
- National Housing & Construction Co Ltd v Lion Assurance Co Ltd (CS No. 239/2013)
- Fredrick Zaabwe v Orient Bank and Others (SCCA No. 04 of 2006)
- Kampala Bottlers Ltd v Damanico (U) Ltd (Civil Appeal No. 22/1992)
- E.L.T Kiyimba-Kaggwa v Hajji Katende Abdu Nasser [1985] HCB 43
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.