224 Pages
by
Informa Law from Routledge
223 Pages
by
Informa Law from Routledge
Also available as eBook on:
A refund guarantee is an essential component of almost every shipbuilding project, without which the buyer will be unwilling or unable to proceed.
There is no standard form of refund guarantee in universal usage, and both the form and substance of refund guarantee instruments vary widely from case to case. The ambiguity or uncertainty of the meaning of refund guarantee instruments, against a... Read more
- Introduction
- Definitions and characteristics
- Contractual and statutory requirements
- Construction
- Aids to construction of demand instruments and guarantees
- Presumption against the imposition of primary liability
- Authority of signatory
- Local approvals
- The BIMCO NEWBUILDCON – Standard Newbuilding Contract – Part II, Annex A (iii) Refund Guarantee
- Introduction
- Clause 1 Definitions
- Clause 2 Guarantor’s Obligation
- Clause 3 Indulgence, delay, amendment or variation
- Clause 4 Duration
- Clause 5 Dispute
- Clause 6 No counterclaim or set-off
- Clause 7 Currency
- Clause 8 Assignment
- Clause 9 Governing law and jurisdiction
- Clause 10 Notices
- Clause 11 Immunity
- Clause 12 - 14 Approvals and authorisations
- Guarantees issued on behalf of the buyer
- Guarantees issued on behalf of the builder
- Parent guarantees and letters of comfort
- Assignment and novation
- Material variation of the underlying contract
- Anti-discharge provisions
- Discharge of the surety
- Vitiating elements in the contract of suretyship
- Making demand
- Restraining payment
- Enforceability of an English Court judgment / London arbitration award
Biography
Mark Davis is the author of Bareboat Charters, and has over 25 years’ experience as a solicitor in private practice specialising in shipping law.
