Under a completion guaranty, sometimes referred to as a “cost overrun guaranty,” the guarantor typically guarantees any excess of the cost of completing construction over the portion of the construction loan allocated to funding construction costs.

The lender will usually have all or some of the following three remedies: (i) requiring the guarantor to complete construction, in which case the guarantor will be entitled to draw undisbursed amounts of the construction loan allocated to construction costs, […]

Foreign states and their agencies engage in a variety of construction projects in the United States, all of which are subject to the Foreign Sovereign Immunities Act (“FSA”).1 This article explains some of the key aspects of the FSA that foreign governments and contractors should consider when engaging in those projects.
Foreign States and Their Agencies
Foreign states are treated differently from their agencies for certain aspects of the FSA. In deciding whether an entity is the […]