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Sunday 23 September


 


FEES AND COSTS AS FROM 1 JUNE 2012

Introduction

The various LMAA Terms provide:-

1. for certain fees to be paid by the parties; and
2. for certain limitations on recoverable costs.

These are either set out in the terms themselves or the terms provide that they shall be fixed from time to time by the Committee of the LMAA. Save where otherwise stated, they do not include fees which are payable directly to the arbitrators or mediators.

The LMAA also charges a fee for making default appointments or for providing certificates. This is an amount which is fixed from time to time by the Committee of the LMAA.


Purpose

The purpose of this page is to summarise and publish such fees and limitations as they will have effect from 1 June 2012. The terms of the rules and the FAQs should be also be referred to.

VAT

Where applicable, VAT is payable in addition to such fees.

 

The LMAA Terms - First Schedule

(A) Appointment Fee

Fixed by the Committee of the LMAA
Currently fixed at £250   


(D) Booking fees

Fixed by the Committee of the LMAA.
Currently fixed at £1,000 per day for hearings of up to 10 days duration.

 

The LMAA Intermediate Claims Procedure 2012

Paragraphs 5(b) and 19(b) - The LMAA Fee

Fixed by the Committee of the LMAA
Currently fixed at £250

Paragraph 17 - Appointment Fee

Fixed by the Committee of the LMAA
Currently fixed at £250.


The LMAA Small Claims Procedure
(This does not apply to the LMAA SCP 1989 which has different provisions)

Paragraph 2(a) – Fee

The fees and limitation on costs are those prevailing at the time of the commencement of the arbitration.

Small claim fee payable to the arbitrator
Fixed by the Committee of the LMAA
Currently fixed at £3,000*


Paragraph 2(b) - Fee

Small claim fee payable to the LMAA for onward transmission to the arbitrator
Fixed by the Committee of the LMAA
Currently fixed at £3,000*

Plus

Administration Fee (Non-refundable)
Set out in the Terms.
£250


Paragraph 3(c) - Fee

Additional fee payable to the arbitrator for a counterclaim which exceeds the amount of the claim
Fixed by the Committee of the LMAA
Currently fixed at £2,000


Paragraph 8 - Limitations on Costs

Claim
Fixed by the Committee of the LMAA
Currently fixed at a maximum of £4,000 (£3,500 for arbitrations commenced before 1 June 2012).

Counterclaim which exceeds the amount of the claim
Fixed by the Committee of the LMAA
Currently fixed at a maximum of £4,500 for claim and counterclaim (£4,000 for arbitrations commenced before 1 June 2012).

 


Fee for Certifying Documents
 
Fixed by the Committee of the LMAA.
Currently fixed at £250. 

 


Fee for Default and other Appointments
(not under the LMAA Small Claims Procedure)


Fixed by the Committee of the LMAA.
Currently fixed at £250.


 

The LMAA Mediation Terms

Paragraph 13A - Appointment Fee
Set out in the terms
£250

 



*Subject to Paragraph 3(d)