Say it or lose it: The cost of assuming time is of the essence

In SLB & Ors v PAK & Ors [2026] EWHC 449 (Comm), Mr Justice Calver dismissed appeals against ten arbitral awards arising from shipbuilding contracts on the basis that a contractual term to provide refund guarantees within a specified time limit was in fact an innominate term and not a contractual condition.... By: Hogan Lovells