American Export Group International Services, Inc. v. Salem M. Al-Nisf Electrical Co.

MEMORANDUM

GESELL, District Judge.

This is an action to prevent payment in satisfaction of two irrevocable international standby letters of credit.

American Export Group International Services, Inc. and Aegis Europe Limited, its wholly owned foreign subsidiary (“plaintiff”), contracted with defendant Salem M. Al-Nisf Electrical Co., W.L.L. (“Salem”), a private company incorporated in Kuwait, to supply construction materials and electrical equipment which is warranted for one year. Salem required two performance bonds which were issued by The National Bank of Kuwait, SAK (“NBK”) and the bonds in…