Letter of Guarantee

To: Date:
Cc: China Maritime Arbitration Commission

Re:

In consideration of, and upon condition that, you refrain from arresting or otherwise detaining the or any other ship or property in the same or associated ownership or management in connection with your claim against the owners of the relating to the above incident, we, , for and behalf of hereby undertake to pay to you such sum as may be agreed between the parties (which are to include ) to be due to you as a result of an amicable settlement, or as may be found and adjudged to be due to you from the owners of the by final judgment of the competent China Maritime Arbitration Commission, provided always that total liability hereunder shall not in any circumstances exceed (including interest and costs) the sum of and that this guarantee is given for the release of the from arrest, but without admission of liability of the owners of the or waiver of any all defense or limit of liability available to them.

Co.

For and on behalf of
Letter of Guarantee

To: The Owners of M/V " ",
Re: M/V " " c/ w M/V " " off , PRC on

In consideration of and upon condition that your releasing and/ or refraining from arresting, re-arresting or otherwise detaining M/V " " or any other vessel or property in the same or associated ownership, management, possession or control in respect of your claims arising out of the above collision, We, , for and on behalf of the Owners of M/V " ", hereby undertake to pay to you within 21 days of your demand such sum of sums as may be due to you from the owners of M/V " " in respect of your said claim either as may be agreed in writing between the Parties, or as may be adjudged by the final and enforceable judgment, whichever is applicable, provided always that our liability under this Letter of Guarantee shall not exceed the sum of USD (US Dollars Only) including interests and costs.
The provision of this Letter of Guarantee, shall not be construed as the admission of liability by the Owners of M/V " ", and shall be without prejudice to its rights and defenses available including the right to the limitation of their liability under any applicable laws.
This Letter of Guarantee shall be effective up to the settlement of the captioned matter. Once it is invalid, this Letter of Guarantee shall be returned to us for cancellation.
AND for the consideration aforesaid:
a. We warrant that we are informed by the owners of " " that the said ship was not demise chartered at the material time; and
b. We undertake that we will, within 10 days of the receipt from you or your lawyers of a request so to do, accept or instruct Chinese lawyers to accept on behalf of the owners of " " service of proceedings brought by you in China Maritime Arbitration Commission therefrom and to acknowledge service; and
c. We warrant that we have received irrevocable authority from the owners of the above-named ship to warrant and undertake in accordance with (a) and (b) above.

Yours faithfully,

Guarantor: Company
Dated on: