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The maritime security discussed in this chapter refers to both: (1) the security that is put up by the person against whom the claim is made in court proceedings, for the preservation of a maritime claim; and (2) the security that is put up by the claimant in court proceedings for the preservation of a maritime claim, maritime injunction or the preservation of maritime evidence. 1 In practice, the latter is usually termed “counter security”. The performance guarantee or refund guarantee involved in charterparties, shipbuilding contracts and other maritime contracts may sometimes be also called a maritime security. Such guarantees, however, are not governed by the Special Maritime Procedure Law and therefore are not the subject of the discussions of this chapter.
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