Letter of Guarantee
Cc: China Maritime Arbitration Commission
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
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
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.