This session will examine different types of security often required for construction projects, such as letters of credit, surety bonds, bank guarantees and parent guarantees, as well as the due diligence and independent legal opinions that should be required by lawyers to support the validity of execution and enforceability of such securities. Differences between domestic and international projects and securities will be discussed, as well as whether there are any differences in recovery when an order is made against such a security by a court, arbitrator or adjudicator. The session will also discuss issues arising out of an improper call on security and the contract provisions parties seek to include in contracts to protect themselves against such improper calls.