TORKORNOO, J. A:
This is an appeal against a ruling dismissing an application for summary judgment against Merchant Bank (referred to as the Bank hereinafter). The Plaintiff Respondent (referred to as Respondent hereinafter) in this appeal was employed as a contractor to construct two warehouses and other facilities in two lots for the 1st Defendant /Counterclaimant/Appellant (Appellant) valued at a total figure of GH¢4,000,000.00. The contract period for the warehouses and other facilities was September 2011 to March 2012 and September 2011 to January 2012 respectively.
The contract required that the contractor provide advance payment guarantees for mobilization payments given to the contractor. The contractor was also to provide performance securities for the due execution of the contracts.
Two advance payment guarantees were issued by the Bank on 5th September 2011 in support of the Contractor. These guarantees were in the sums of GH¢227,317.93 and GH¢468,682.07 respectively …