LMAA Terms 2017.
Legal News & Analysis - Asia Pacific - Shipping Maritime & Aviation
6 June, 2017
The LMAA have introduced revised versions of all their terms:
- LMAA Terms 2017
- LMAA Intermediate Claims Procedure 2017
- LMAA Small Claims Procedure 2017
The changes to the main terms include:
An express obligation on the parties and Tribunal "actively" to consider ways of making the arbitral process as cost effective and efficient as possible.
When dealing with costs, a Tribunal will be entitled to take into account a party's unreasonable or inefficient conduct (including failure to comply with the Checklist), the costs estimates provided with the LMAA Questionnaires and Calderbank offers (i.e. offers made "without prejudice as to costs"). It is made clear that the CPR Part 36 procedure does NOT apply in LMAA arbitrations.
If the parties agree that an order or direction is deemed to be an order or direction of the Tribunal, they must notify the Tribunal).
For further information, please contact:
Andrew Rigden Green , Partner, Stephenson Harwood