How safe is an ‘Un-SAFE’ Guarantee
Monday 25 May, 2009
David Beaves and Peter Murray consider recent amendments to the regulations governing China's State Administration of Foreign Exchange (SAFE) and its implication on guarantees issued in relation to ship finance and shipbuilding contracts in China
"Charles Dickens famously wrote “credit is a system whereby a person who can't pay gets another person who can't pay to guarantee that he can pay”. Many guarantees have been issued by Chinese guarantors over the last few years, some in the context of refund guarantees for shipbuilding contracts, or others, for example, guaranteeing performance under charters. Dickens cynically wrote about a guarantor “that can't pay”, but what if the reason for non-payment is that the guarantee concerned has not been approved by or registered with a Chinese state body? We are referring, of course, to the State Administration of Foreign Exchange ('SAFE')."
How safe is an ‘Un-SAFE’ Guarantee (pdf)
Date: Wednesday 23 - Thursday 24 May, 2012
Location: One Drummond Gate, London
Ince & Co partner Chris Kidd is speaking on “Managing conflicts and disputes”. He is also chairing and moderating some sessions.
Date: Wednesday 23 - Friday 25 May, 2012
Location: London
Ince & Co partner Fionna Gavin will be speaking during the morning of the third day on “Tanker Charterparties - time and voyage”. Which will cover the differences in, and justifications for, tanker chartering.
Date: Thursday 24 May, 2012
Location: London
Ince & Co partner Faz Peermohamed will be speaking during day one of the conference on “Shipping: The Titanic, Prestige, Costa & Pirates”.
Date: Tuesday 29 - Wednesday 30 May, 2012
Location: Cowes, English Channel, Isle of Wight, Solent
Ince & Co will be taking part in the Lutine Lineslip Regatta, a Lloyds Yacht Club Event for the Insurance Industry, in May 2012.
Date: Tuesday 29 May, 2012
Location: British Consulate, Hong Kong
Ince & Co partner Denys Hickey will be speaking at the forum on “Contractual challenges in the LNG distribution supply chain”. The session will cover balancing long term security and flexibility in contracts and identifying and mitigating risks in LNG supply contracts.