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Sunday 23 September


 

 “The shipping and commodity trades of the world are unusual in that they do not regard … arbitration with abhorrence. On the contrary, they regard it as a normal incident of commercial life – a civilised way of resolving the many differences of opinion which are bound to arise …

 
As a result, a domestic arbitration service has grown up in London, which serves the shipping and commodity trades on a world-wide basis. I say ‘domestic’ because an important characteristic is that the arbitrators are not regarded as outsiders.”
 
Lord Donaldson of Lymington
 
More maritime disputes are referred to arbitration in London than to any other place where arbitration services are offered. In 2014 LMAA Full Members received about 3,582 new arbitration appointments and more than 584 awards were published by them.

Arbitrations in London are conducted under the Arbitration Act 1996. The LMAA Terms are the terms on which LMAA members usually accept arbitration appointments in maritime cases. Where the members of the tribunal accept the appointment on such terms they therefore apply to and govern the procedure adopted in the arbitration reference. The Terms have been altered from time to time and the current version is the LMAA Terms (2012) .

The LMAA has also instituted its Small Claims Procedure (SCP), Fast and Low Cost Arbitration (FALCA) and Mediation Terms which together offer those involved in maritime matters a wide range of choice for the resolution of disputes.
 
 
Objects of the LMAA

One of the main objects of the LMAA is:

"to advance and encourage the professional knowledge of London maritime arbitrators and, by recommendation and advice, to assist the expeditious procedure and disposal of disputes"