Marie Kelly, a partner in Maritime London member, Norton Rose Fulbright’s London office, recently interviewed Ian Gaunt, president of the London Maritime Arbitration Association (LMAA), about arbitrating under the LMAA Terms and recently introduced amendments to the LMAA Terms 2017.
Last year, LMAA statistics indicate some 2,000 new arbitrations commenced under LMAA Terms involving LMAA arbitrators or members of the bar operating on LMAA Terms. A significant amount of those arbitrations were “documents only” which means that there is no hearing and is therefore more cost- effective and tends to produce a faster award. The interview also discusses the recent changes to the LMAA rules that have not included the appointment of an emergency arbitrator as some of the other institutions have. Ian Gaunt discusses the reasons why LMAA came to the conclusion that this simply wasn’t necessary.
The interview and a full transcript is available here.
