Refund Guarantees


Restraining payment


19.1 Where there is an imminent danger that a buyer will cancel the shipbuilding contract in circumstances where the builder disputes the buyer’s entitlement to do so, the builder will naturally be concerned that the buyer’s threat carries with it an implicit threat to call on the refund guarantee, which is the likely, if not the inevitable, consequence of exercising a contractual right to cancel.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.