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The buyer obtained funding from Alpha Bank AE and the Bank of Communications Company Limited Qingdao Branch provided refund guarantees to the buyer as security for instalments paid under the shipbuilding contract.

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If there is a date at the beginning of the contract which is not the date of the last signature this can lead to confusion or be of no effect in interpreting when the contract actually began.Sometimes a group of companies which has reorganised itself will want to backdate some of those changes, perhaps to backdate an intra-group transfer of business so that it coincides with the previous year end.Here are some guidelines as to what may be possible from a legal perspective.It also highlights the risks of backdating shipbuilding contracts.Chinese Shipyard Nantong Mingde Heavy Industry Stock Co, agreed to construct and sell a vessel to Crescendo Maritime Co, pursuant to the terms of a shipbuilding contract.In the commercial world there is often a desire for documents to take effect before the date on which they are ultimately signed.