Commentary

112 Anti-seizure laws

BAILMENT vol 3(1)
| Commentary

112 Anti-seizure laws

| Commentary

112 Anti-seizure laws

An alternative and perhaps ideal safeguard is the existence of an anti-seizure law in the borrowing country. A borrower may decide to lend only to countries with an anti-seizure or safe conduct statute, guaranteeing the work against seizure by a court throughout the period of the loan. But such legislation exists only in a minority of states and its invocation may be subject to narrow restrictions or onerous conditions. Loan agreements sometimes impose an undertaking on the part of the borrower that all requirements to activate the protection available under a local anti-seizure law have been met,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial