Managing Default London / New York Arbitration Clause in a Charter Party Agreement
Avoiding Default Arbitration Clause in a Charter Party Agreement and Managing Maritime Arbitration:
Options for changing a Clause in a signed agreement, at the time of dispute
It is not surprising that the parties when negotiating a charter party agreement or any other shipping and maritime industry related contracts, using a standard form like NYPE, BIMCO Forms, seldom negotiate the dispute resolution clause. In the event if no specific choice is made by the parties, the default provision becomes applicable, this provides London or New York as the seat of arbitration. The rules of arbitration are either not stated or LMAA Arbitration Rules and English Arbitration Act 1996, as the procedural law is given as default provision. The parties and/or their ships or offshore support vessels operating in Asia, Africa, Middle East or South America, with no real or remote connection with London or New York, often find themselves in an unpleasant, uneconomical and a controversial situation.
In this interactive webinar designed to provide a comparative overview of the seats of arbitration, Mr. Jayems Dhingra, Chartered Arbitrator and a veteran of the maritime industry, will share his insights on situations under which the parties have a choice to modify their agreement and opt for an alternative choice of arbitration seat, when a dispute has arisen.
If you have encountered or are facing such situations, Tiberias MC recommended solutions can help you to make more informed decisions, right before invoking the dispute resolution clause. In this global group discussion based interactive webcast the participants can explore some of the ways in which arbitrations can be managed more effectively.
The decision making capabilities of some of the world’s most successful companies, are proven through their capabilities, in resolving disputes and managing projects. This webinar will be great investment of your time and save you millions of dollars in wasted expenses. The discussion is targeted at the legal counsels and senior management personnel from oil and gas, offshore & marine and merchant shipping to ship repair, shipbuilding and offshore construction industries.