AWARD ON THE DISPUTE OVER DEPOSIT AND LIQUIDATED DAMAGES FOR M.V. “JI MEI 901”

[2021] 4 CMCLR 69 (CMAC)

CHINA MARITIME ARBITRATION COMMISSION (SHANGHAI)

Sale and Purchase of Ship Agreement – Payment of deposit – Delivery of the ship – Failure to pay the balance of purchase price – Actual controller during the period of the dispute – Rescission of the contract – Redelivery of the ship – How to deal with the deposit, liquidated damages and compensation for breach of contract – Article 116 of Contract Law of the People's Republic of China.