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