13. Guarantees, Commitments and Contingencies
In the normal course of its business, the Plan may, from time to time, provide guarantees to various counterparties and enter into commitments which may be considered material within the context of the Fund. The Plan has committed to fund certain investments over the next several years in accordance with the terms and conditions agreed to. As at December 31, 2010, these commitments totaled $1,393 million (2009 - $956 million).
OPTrust indemnifies its trustees and staff against certain claims that may be made against them to the extent that these individuals are not covered under other arrangements. There are no guarantees that might be considered material outstanding as at December 31, 2010.
As at December 31, 2010, the Plan was involved in litigation and claims which arise in the normal course of business. The outcome of such litigation and claims is inherently difficult to predict. However, in the opinion of management, any liability that may arise from contingencies would not have a significant adverse effect on the consolidated financial statements of the Plan.