This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Guarantees issued on behalf of the buyer
Because most newbuildings are purchased by special purpose companies established in tax-efficient jurisdictions whose sole asset will be the vessel, which is the subject of the shipbuilding contract, the builder is exposed to risk in the event that the buyer does not perform its obligations under the contract.
The rest of this document is only available to i-law.com online
If you are already a subscriber, please enter your details below to log in.