Political risk and trade credit
Our Political Risk team excels in advising on confiscation, expropriation, nationalisation and deprivation (CEND) claims, claims under surety and guarantee policies, contract frustration, trade credit disputes and recoveries.
We have considerable experience acting for political risk and credit insurers and reinsurers, both state supported and private/companies market. Our expertise includes political risk (CEND, contract frustration); trade credit and surety cover (retention of title; payment terms; collection agreements; performance bonds; advance payment bonds; bid bonds; sale credit bonds); recoveries; and advisory (new products; sanctions; international trade regulation).
We have handled disputes globally and have particular experience in jurisdictions across Asia as well as Angola, Egypt, Sudan, Russia, Argentina and Venezuela.
We understand multi-jurisdictional work and have considerable experience in securing the recoveries vital to many political risk and trade credit claims.
Our political risk and trade credit team has strength in depth, particularly in relation to losses arising out of confiscation/expropriation, surety and guarantee claims and complex trade credit issues.
Where we need to work with lawyers in other jurisdictions, we call upon our international best friend network of law firms to provide local expertise. This helps us ensure we find the right local lawyer for the job thereby keeping cost and indemnity spend down.
Examples of work
Contract frustration claim for non-payment by Gazprom for gas shipped from Russia to Finland
CEND policy and currency inconvertibility claim involving a civil engineering contract in Africa
Advising on claims under Excess of Loss Reinsurance Treaty in relation to $320m claims arising under Performance and Advance Payment Bonds in Asia
Currency inconvertibility claims arising in Venezuela and Egypt
CEND policy claim arising out of a power generation facility in India
The Team
Naomi Vary
Partner
Insurance Political risk and trade credit Reinsurance International arbitration Insurance disputes and claims International property Dispute resolution
- +44 20 3060 6522
- Email Naomi Vary
- London
Mark Errington
Partner
Insurance disputes and claims International arbitration Energy Construction insurance Political risk and trade credit Reinsurance Insurance International property Manufacturing, industrial and mining Dispute resolution Asia disputes Construction disputes General liability Property Construction
- +65 6422 3040
- Email Mark Errington
- Singapore
Jonathan Wood
Chair of International Arbitration
Dispute resolution Banking and financial markets disputes Commercial disputes International arbitration Construction and projects Art and specie Energy Political risk and trade credit Reinsurance Distribution and commercial contracts International trade and commodities
Toby Savage
Partner
Insurance Insurance disputes and claims Energy Political risk and trade credit International property Marine insurance Reinsurance Manufacturing, industrial and mining Property Dispute resolution Construction
