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Legal Guarantee or Simple Declaration of Intent?, the Challenge of the Limitation of Maritime Liability and the Letters of Guarantee of the P&i Clubs. by Miguel Jorge Segovia Atalah, Lawyer of Araya & Cía.
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In maritime law, establishing a liability limitation fund is not a procedure. It is an act of ius strictum. The case of the M/N Maersk Saltoro (5th Civil Court of Valparaiso, Rol V-19-2025) illustrates it clearly: Are the guarantee letters of the P&I Clubs legally sufficient instruments before a Chilean civil court? The answer is not as evident as its proponents claim. The court must rate the sufficiency, not only the amount. Article 1213 N° 3 o…
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