The Expedited Procedure in Maritime Arbitration: An Overview
21 Pages Posted: 17 May 2017
Date Written: May 17, 2017
One of the duties of an arbitral tribunal is to conduct the proceedings in a speedy and cost effective way; for instance, Art. 17(1) UNCITRAL Arbitration Rules says that: “The arbitral tribunal, in exercising its discretion, shall conduct the proceedings so as to avoid unnecessary delay and expense and to provide a fair and efficient process for resolving the parties’ dispute”. The LMAA has issued its own guidelines “with a view to making the decision-making process as cost-effective and efficient as possible”.
In this period, the problem of costs in arbitration is an hot issue and “parties frequently complain that arbitration often costs significantly more than they wish to cost” and now “the cost of bringing or defending a claim before an international arbitral tribunal is likely to be considerably higher than that of bringing or defending the same claim before a national court”.
The problem of costs is more significant if the amount in dispute is small or if the issues at stake are relatively simple.
Arbitral institutions have to face up to this issue; often they have provided for simplified procedures.
Aim of this article is to analyse how some maritime arbitration associations have faced up to this need.
Keywords: Maritime Law, International Arbitration, Hong Kong, China, Singapore, ICC, LMAA
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