How does an LMAA arbitration proceed once the tribunal is appointed?
LMAA arbitrators accept appointment on the basis of the LMAA Terms (2006) which thus apply in almost all cases. The Second Schedule to the Terms sets out the procedure normally to be followed. Reference should be made to that, as it is too long to repeat here. It is designed to ensure a number of things. First, parties’ cases are to be “put on the table” as fully as is practicable at an early stage so that each knows what case it has to meet. Second, this is to be done in the most cost-effective and time-effective way possible. Third, parties are to try to agree between themselves matters such as extensions of time for taking various steps, and other procedural matters, so as to save time and reduce costs – including of course the arbitrators’ charges.
