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Examining the law of export credit insurance and export credit guarantees, this book clarifies the legal nature of ECI and ECGs as insurance and guarantees respectively by comparing their legal characteristics regarding contract formation process, terms and conditions, duty of fair presentation, claim handling process and subrogation and recoveries. It further explores why some export credit agencies provide export credit guarantees in addition to export credit insurance, notwithstanding that an ECG is a more client-friendly product and easier than ECI for banks to use.
Analysing the legal principles applicable to export credit insurance and export credit guarantees reflected by English case authorities and statutory law, the book is a doctrinal study informed by substantive empirical research. It studies a large number of export credit insurance and export credit guarantee contractual terms, to propose several model clauses and scrutinise the influences of the Insurance Act 2015 on ECI.
This book is an important reference for students, academics and practitioners in the field of commercial and insurance law. In particular, it seeks to provide guidelines for all potential parties who wish to arrange an ECI/ECG transaction, including export credit agencies, private credit insurers, brokers, banks, exporters and buyers, to correctly identify and choose the suitable cover.
List of contents
1. Introduction, 2. How are ECI and ECGs used in the industry?, 3. Terms and conditions of ECI and ECGs, 4. The duty of fair presentation under ECI and ECGs?, 5. The claim handling process under ECI and ECGs, 6. Subrogation and recoveries under ECI and ECGs, 7. Why ECAs provide ECGs in addition to ECI
About the author
Dr Cheng Lin is an Associate Professor at the School of Law, Fujian Normal University, China. He read his PhD at King’s College London under the supervision of Prof Özlem Gürses and Prof Eva Lomnicka QC (Hon). He was awarded the King’s Outstanding PhD Thesis Prize 2021 after passing the viva without corrections. Dr Lin has published widely in leading law journals including Journal of Business Law and Lloyd’s Maritime and Commercial Law Quarterly. He has also had extensive legal internships at the International Union of Credit & Investment Insurers (2019-2020), China Export & Credit Insurance Corporation (2017), Yuqing Zhang Law Firm Beijing (2016-2017) and the Supreme Court of China (2014). Dr Lin passed the Chinese National Bar Exam in 2013 and holds the Chinese legal qualification.
Summary
Examining the law of export credit insurance and export credit guarantees, this book clarifies the legal nature of ECI and ECGs as insurance and guarantees by comparing contract formation processes, terms and conditions, duty of fair presentation, claim handling processes and subrogation and recoveries.
