Credit enhancement in international trade transactions:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London
Lloyd's
1992
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XI, 246 S. |
| ISBN: | 1850444579 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | CONTENTS
Page
Preface
INTRODUCTION: A BRIEF HISTORY OF PRIVATE
CREDIT INSURANCE IN INTERNATIONAL
TRADE AND FINANCE 1
Private insurance stimulated by limited availability and cost of
bank financing
PART I A PRACTICAL GUIDE TO THE CON¬
TRACT FRUSTRATION AND REPUDIATION
POLICY 5
What types of contractual obligations can be insured? 5
What is a government entity? 6
Scope of coverage 6
The policy form 7
The underwriter is entitled to rely on all information provided
by the broker 7
Interpretation of standard clauses and suggestions for improving
the transparency of coverage 8
The form of the policy wording, but not the substance, varies
among the major companies 9
Insuring clauses in contract frustration policies 10
Insuring clauses where the contractual counterparty is a
government entity (contractual repudiation) 10
Insuring clauses where the contractual counterparty is a pri
vate entity (contractual frustration) 11
Loss assessment in contract frustration policies 13
Losses due to payment transfer risk 13
viii CONTENTS
Losses incurred where performance by the policyholder is
frustrated 14
Commercial loss sustained for non delivery or defective per¬
formance by a supplier 15
Conditions of coverage 17
Due diligence clause 17
Onus of proof clause 22
Non contribution clause 22
Insurable interest 23
Co insurance (self insured retention) clause 23
Confidentiality clause 24
Immediate notice of loss clause 25
Payment of loss clause 25
No prior knowledge clause 26
Non assignment clause 27
Policy warranties 28
Warranty that the contract is effective and enforceable 29
Observation of laws; due authority 29
Warranty of no contract modification 31
Exclusions from coverage 32
War exclusion 32
Insolvency and financial default exclusion 33
Exclusion of claims resulting from material default by the
policyholder 35
Acts and omissions of local agents and contractors 36
Default by the policyholder s local affiliate 36
Exclusion of losses caused by currency fluctuations 36
Procedures for administering a contract frustration insurance
policy 37
Due diligence 38
(i) Initial assessment
(ii) Periodic reports
Contract management 38
New advances 39
Conclusion 39
PART II A PRACTICAL GUIDE TO THE CONFIS¬
CATION, EXPROPRIATION AND NATION¬
ALISATION POLICY 41
What types of risks can be insured? 41
Applications of CEN insurance to international trade trans¬
actions 42
CONTENTS ix
What kinds of property can be insured? 43
Action by a government agency 44
Insurable losses; expropriatory acts 44
Licence cancellation 45
Deprivation 46
Policy form, information provided to the broker, and interpret¬
ation of clauses 47
Insuring clauses and definitions in CEN policies 47
Definition of insured perils; expropriation and deprivation 48
Definition of government 49
Definition of property 49
Loss definition tand calculation 51
Definition of date of loss 51
Conditions of coverage 52
Policy warranties 53
Disclosure clause 53
Compliance with laws 53
Exclusions from coverage 54
War exclusion 54
Loss of title exclusion 55
Financial default exclusion 56
Exclusion of claims based upon delay 56
Notice of loss and due diligence exclusion 57
Procedures for administering a CEN policy 58
Securing title to insured assets 58
Current information concerning local laws 59
Casualty insurance of the assets 59
AFTERWORD 61
APPENDIX 1 LIST OF MAJOR POLITICAL RISK
BROKERS 63
APPENDIX2 SAMPLE POLICY FORMS 65
Insurance proposal forms: 65
Contract frustration and repudiation coverage 65
Lloyd s Contract Frustration/Repudiation Coverage 65
Lloyd s Contract Frustration/Repudiation Coverage—Pre
Export Finance and Countertrade 72
x CONTENTS
PanFinancial Contract Completion Coverage 77
PanFinancial Purchase Contract Completion Coverage 81
PanFinancial Non Honouring of Letter of Credit Coverage 85
PanFinancial Wrongful Calling of On Demand Guarantee
Coverage 87
P.A.R.I.S. General Political Risk Coverage 91
Lloyd s Confiscation, Expropriation c Nationalisation
Coverage 94
PanFinancial Mobile Asset Coverage 96
Standard policy wording 100
Contract frustration/repudiation coverage 100
Lloyd s Contract Frustration/Repudiation Coverage 100
AIU Contract Repudiation Coverage (Sales Contracts) 113
AIU Contract Repudiation Coverage (Services Contracts) 134
PanFinancial Contract Completion Insurance 155
PanFinancial Non Honouring of Letter of Credit Insurance 165
PanFinancial Purchase Contract Completion Insurance 172
PanFinancial Wrongful Calling of On Demand Guarantee
Insurance 179
P.A.R.I.S. General Conditions of Political Risk Coverage 187
P.A.R.I.S. Contract Repudiation Special Conditions 194
P.A.R.I.S. Contract Frustration Special Conditions 196
P.A.R.I.S. Cancellation or Non Renewal of Licence/Change
in Legislation Special Conditions 198
P.A.R.I.S. Inconvertibility/Non Transfer of Currency
Special Conditions 200
P.A.R.I.S. Unfair Calling of Bond Special Conditions 202
Confiscation, Expropiation and Nationalisation Coverage 204
Lloyd s wording 204
AIU Confiscation, Expropriation Nationalisation Insur¬
ance (Mobile Property) Coverage 206
PanFinancial Mobile Asset Coverage 214
P.A.R.I.S. Confiscation/Seizure/Deprivation Special Con¬
ditions 220
APPENDIX 3 SAMPLE PURCHASE AND SALE AGREE¬
MENT
Sample Purchase and Sale Agreement With Public Purchaser:
Contract Frustration Wording 223
Sample Purchase and Sale Agreement With Private Supplier:
CEN Wording 230
t
CONTENTS xi
APPENDIX 4 SAMPLE LEGAL OPINIONS 239
Sample Legal Opinion: Contract Frustration Wording 239
Sample Legal Opinion: CEN Wording 240
Index 242
|
| any_adam_object | 1 |
| author | Budd, Nicholas |
| author_facet | Budd, Nicholas |
| author_role | aut |
| author_sort | Budd, Nicholas |
| author_variant | n b nb |
| building | Verbundindex |
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| callnumber-subject | HG - Finance |
| classification_rvk | QK 010 |
| ctrlnum | (OCoLC)26957444 (DE-599)BVBBV006629980 |
| dewey-full | 341.754 658.88 |
| dewey-hundreds | 300 - Social sciences 600 - Technology (Applied sciences) |
| dewey-ones | 341 - Law of nations 658 - General management |
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| dewey-search | 341.754 658.88 |
| dewey-sort | 3341.754 |
| dewey-tens | 340 - Law 650 - Management and auxiliary services |
| discipline | Rechtswissenschaft Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| id | DE-604.BV006629980 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T16:49:33Z |
| institution | BVB |
| isbn | 1850444579 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-004238102 |
| oclc_num | 26957444 |
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| owner | DE-384 |
| owner_facet | DE-384 |
| physical | XI, 246 S. |
| publishDate | 1992 |
| publishDateSearch | 1992 |
| publishDateSort | 1992 |
| publisher | Lloyd's |
| record_format | marc |
| spelling | Budd, Nicholas Verfasser aut Credit enhancement in international trade transactions by Nicholas Budd 1. publ. London Lloyd's 1992 XI, 246 S. txt rdacontent n rdamedia nc rdacarrier Commercial credit Credit insurance International trade Auslandskredit (DE-588)4194297-8 gnd rswk-swf Außenhandel (DE-588)4003832-4 gnd rswk-swf Kreditsicherung (DE-588)4032945-8 gnd rswk-swf Außenhandel (DE-588)4003832-4 s Auslandskredit (DE-588)4194297-8 s Kreditsicherung (DE-588)4032945-8 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=004238102&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Budd, Nicholas Credit enhancement in international trade transactions Commercial credit Credit insurance International trade Auslandskredit (DE-588)4194297-8 gnd Außenhandel (DE-588)4003832-4 gnd Kreditsicherung (DE-588)4032945-8 gnd |
| subject_GND | (DE-588)4194297-8 (DE-588)4003832-4 (DE-588)4032945-8 |
| title | Credit enhancement in international trade transactions |
| title_auth | Credit enhancement in international trade transactions |
| title_exact_search | Credit enhancement in international trade transactions |
| title_full | Credit enhancement in international trade transactions by Nicholas Budd |
| title_fullStr | Credit enhancement in international trade transactions by Nicholas Budd |
| title_full_unstemmed | Credit enhancement in international trade transactions by Nicholas Budd |
| title_short | Credit enhancement in international trade transactions |
| title_sort | credit enhancement in international trade transactions |
| topic | Commercial credit Credit insurance International trade Auslandskredit (DE-588)4194297-8 gnd Außenhandel (DE-588)4003832-4 gnd Kreditsicherung (DE-588)4032945-8 gnd |
| topic_facet | Commercial credit Credit insurance International trade Auslandskredit Außenhandel Kreditsicherung |
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