SHANGHAI SHIPYARD CO LTD v REIGNWOOD INTERNATIONAL INVESTMENT (GROUP) CO LTD

[2022] Lloyd's Rep. Plus 1

COURT OF APPEAL

Before Sir Geoffrey Vos, Master of the Rolls, Lord Justice Baker and Lord Justice Popplewell

Contract - Guarantee – Shipbuilding contract – Builder claiming final instalment of price – Dispute as to whether buyer liable to pay final instalment – Builder claiming final instalment from guarantor on basis that guarantee was a demand guarantee – Whether guarantee a demand guarantee or a see to it guarantee – Whether guarantor’s liability dependent upon time of commencement of arbitration relating to underlying dispute.