Documentary Credit in International Trade
Documentary credits law depends on the principle of autonomy or independence of the credit and the doctrine of strict compliance. The principle of autonomy protects the beneficiary (exporter) while the doctrine of strict compliance protects the issuing bank and the applicant (importer). According to the World Trade Organization, Some 80% to 90% of world trade […]
Categorization of industrial vessels, to avoid constitutional vulnerability.
Categorización de las embarcaciones industriales, para evitar la vulnerabilidad constitucional, en virtud de la aplicación de las sanciones tipificadas en la reforma de la Ley Orgánica para el Desarrollo de la Acuicultura y Pesca. La vigente Ley de Pesca fue aprobada como parte del esfuerzo del gobierno ecuatoriano para proteger a mediano y largo plazo […]
La Franquicia: la Multiplicación de Empresarios y Negocios a nivel Global
The Cendor MOPU: Nuevo Escenario para el Derecho de Seguros
Marine Insurance in the London and Nordic Markets
London is recognized as the worldwide leader for the marine insurance market. The development began in the 18th century when by means of “The Bubble Act” it was forbidden to corporations and societies to run the marine insurance business unless they were authorised by Act of the Parliament or Royal Charter, This measure created a […]
The English Insurance Act 2015: New Regime on Guarantees on Marine Insurance
El rompimiento de una garantía ya no puede ser considerado como una liberación automática de responsabilidad sino como suspensión de responsabilidad. Una vez que se enmienda la violación de una garantía entonces el asegurado recupera la cobertura. Las garantías ahora son consideradas como condiciones suspensivas. Son disposiciones que mejoran la posición del asegurado, pero las […]
Preventive Seizure of Ships
Builders’ Risks and Marine Insurance
The process of building a vessel or a floating object involves a series of risks. Both the entity who orders the construction and the shipyard are exposed to considerable losses if a casualty takes place. Accidents can occur at any of the construction phases involving people and property and also affecting the environment. These events […]
The B/T Punta Blanca case: moral damages in a maritime incident
Este es el primer caso en el Ecuador que reconoce reparación de daños morales por ocasión de un incidente marítimo Leonidas Villagran El caso Punta Blanca constituye el primer caso en el Ecuador en el cual se reconoce reparación de daños morales a favor de una persona por ocasión de un incidente marítimo. Caso patrocinado […]
SAS Corporations in the Ecuador Arena
A new type of corporation has been introduced in the Ecuador law which seeks to provide reduction of incorporation time and facilitate agreements between shareholders. It is likely that many companies would decide to switch to this new system. With the enactment of the Entrepreneurship and Innovation Act by publication in the Official Register of […]