What are the LMAA Terms (2006)?
The LMAA Terms (2006) are the Terms on the basis of which LMAA members usually accept appointment in maritime cases. They will thus apply to the reference if e.g. the other arbitrator is a full member or has accepted on those Terms. The Terms have been altered from time to time over the years: the 2006 version is the current one. The Terms set out the basis on which members of the LMAA agree to act as arbitrators in maritime cases. Reference should be made to them for details of their provisions. In outline, they enlarge upon and in some instances vary the “default” provisions of the Arbitration Act 1996, and make particular provision for tribunals’ fees (the First Schedule), the standard procedure to be adopted in LMAA arbitrations (the Second Schedule), a check-list to be used for preliminary meetings (the Third Schedule) and for the reconstitution of a tribunal in the event that one or more members cannot offer reasonably early dates for an oral hearing (the Fourth Schedule).
