Conservation Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Conservation - Research Paper Example Consequently, the government has limited fishing and tourist activities in this region, as a result. Sadly, this wonderful feature has recently come under threat from the least expected source: the government. While an argument is being fronted to justify the government’s decision, conservationists feel otherwise. This paper seeks to highlight the present state, including facts, about the Great Barrier Reef. Further, the steps taken by various bodies, including the government in preventing damage to this all-important habit will be provided. In short, this paper provides some of the features associated with the Great Barrier Reef, threats it faces and the most effective efforts to save the habitat. Right from the onset, factual statistics shows that Australia has close to one million species, which includes 80% of the mammals in the world, and a further 90% of reptiles. Sadly, its ranking concerning the most endangered animals is alarming as it is currently ranked first (Seay, 2013). Beneath it is a diversity and abundance of shapes, colours and sizes. For instance, there is a semblance of soft and hard corals; annual migration of whales, nesting turtles and coral spawning occurs annually. In addition, the renowned Cod Hole found on the Lizard Island is actually a major reason for tourists to visit Australia. Some of these animals have the Great Barrier Reef as their habitat meaning the region ought to be a highly conserved place. Currently having more than 2,900 reefs, 900 islands and covering an area of 1400 miles, this region found on the coastal side of Queensland, gives life to a number of animals in Australia. In addition, Great Barrier Reef offers a great resource for scientific research with scientist visiting the area to conduct important tests. In addition, the Sea cow, commonly known as dugong and the green turtles are only found here, and face extinction

INTERNATIONAL BANKING - LAW AND PRACTICE Coursework

INTERNATIONAL BANKING - LAW AND PRACTICE - Coursework Example The underlying aspects of suretyship guarantees are that they are effective upon certain conditions, whereas demand guarantees are simply effective upon demand. The underlying reason as to why issuers need instruments to be suretyships is that in a deal of guarantee, the surety accepts a secondary liability to responds for the debtor, who rests primarily responsible. In a contract of indemnity the surety assumes a primary liability, either alone or jointly with the principal debtor. The cases mentioned above will be looked at as to what the courts decide in determining demand and suretyship guarantees, and all information has been extracted directly from the case reports. Demand Guarantees Demand guarantees are written agreements made by a guarantor to assure a beneficiary, subject to the conditions in the agreement. The guarantee is an agreement between the guarantor and the beneficiary. Thus, if an employer is specified a demand guarantee by a bank in respect of the responsibilitie s of a contractor, the contractor is not a party to the agreement. Therefore, the beneficiary is in a strong situation should there be a default. Demand guarantees are contracts and can be generated by either a simple contract or executed as a deed (Birchal & Ramus, 2012). Banks generally set demand guarantees. There are two basic types: on demand guarantees (often referred to as on demand bonds) and documentary demand guarantees. On demand guarantees essentially necessitate a guarantor to make payment to a beneficiary upon request to do so. In the case of documentary demand guarantees, payment will only be made on the securing, by the beneficiary, of the papers required by the terms of the guarantee. These, for example, may be documents proving a court judgment (Birchal & Ramus, 2012). Banks support demand guarantees since they do not need to get tangled in legal opinions and disputes following a default; their view is generally direct. However, their situation is not so reasonable for those necessary to provide demand guarantees. Take, for example, a contractor required to provide a 20% demand guarantee with regards of a $100,000 contract. The guarantee will be the amount of $20,000. The contractor’s bank supplying the guarantee will handle the price of the guarantee as contractors credit and will, therefore, reduce any credit amenities offered to the contractor by this amount. In addition, the bank will undoubtedly require security from the contractor to backup the credit. Both these activities will disturb a contractor’s cash flow and make it more challenging for him to execute contracts. Indeed, the functional competence of a construction firm can be decreased by the obligation to deliver demand guarantees. A contractor in this situation may also sense insecurity, especially where on demand guarantees are delivered. The contractor has insignificant entitlements to avoid a bank paying against an on demand guarantee. Banks will pay on demand a nd leave the contractor to settle any dispute directly with the beneficiary (Birchal & Ramus, 2012). Suretyship Guarantee Companies frequently require working capital to function and grow. The owners of small businesses regularly need to cater a guarantee of suretyshi