The London Maritime Arbitrators Association (LMAA) has published revised Terms and Procedures applying to arbitration proceedings commenced on or after 1 May 2017.
The LMAA is the world leader in international maritime arbitration with approximately 2,000 new arbitrations commenced under its Terms each year.
The revisions of the LMAA Terms, LMAA Small Claims Procedure and LMAA Intermediate Claims Procedure have been made by a committee of experienced arbitrators under the chairmanship of David Owen QC and follow extensive consultation with users. The changes are designed to ensure that the Association’s procedures are maintained in line with current and best practice to ensure an efficient resolution of disputes referred to LMAA arbitration in London.
One of several important changes is an increase in the recommended limit for the application of the LMAA Small Claims Procedure to USD100,000. Details and a comparison of the 2017 terms and procedures with the previous 2012 terms and procedures, together with an explanatory note, can be found on the LMAA website: http://www.lmaa.london/news-article.aspx.
