Categoría: Uncategorized

Ecuador: International sources of Shipping law

Ecuador is party to several international conventions. Some of them are now mentioned. Basically, in 2012 Ecuador ratified the accession to the United Nations Convention on the Laws of the Sea (UNCLOS 1982), also known as the Constitution for the seas. As for the named four pillars of maritime law regulation, Ecuador is party to […]

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 […]

The UK Insurance Act 2015: The Shift in Marine Insurance Warranties Regime

For more than a century the English Marine Insurance Act 1906 has been keeping principles of marine insurance law regarding warranties which according to law commentators became obsolete and out of market. These principles were subject to fundamental changes with The Insurance Act 2015 that will come into force on 12 August 2016. This is […]

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 […]

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 […]