Claiming Culpa in Contrahendo for L/G of Repayment of Shipbuilding Contract shall not Exclude the Application of Arbitration Clause in L/G

In the course of establishment of shipbuilding contract, given the case that the behavior of serious breach of contract by the seller such as serious delay in ship delivery, in order to guarantee that the huge sum of shipbuilding payment paid by the buyer can be recovered in full amount, the buyer usually requires financing institution to provide L/G of repayment, which guarantees that the guarantor will bear the liability for repayment of shipbuilding payment and compensation of financial loss when the seller cannot perform the contract. The legal arbitration clause in L/G of repayment is valid from the establishment of the contract unless the parties of contract agree to cancel or withdraw it, and this clause can exist independently of the dispute settlement clause in shipbuilding contract. If the contractual parties of L/G have submitted the dispute to arbitration, one party disagrees with the award of arbitration and files an lawsuit to the court, the court will have no jurisdiction. It shall not be supported that the party who disagrees the award of arbitration excludes the application of the arbitration clause in L/G of repayment by the reason that the counter party has culpa in contrahendo.