Arbitration Fees and Costs

Introduction

Purpose

The purpose of this page is to summarise and publish such fees and limitations as they stand on 1st March 2010. The terms of the rules and the FAQs should be also be referred to.

VAT

Where applicable, VAT is payable in addition to such fees.

The LMAA Terms - First Schedule

(A) Appointment Fee

Fixed by the Committee of the LMAA

Currently fixed at £200

(D) Booking fees

Fixed by the Committee of the LMAA

Currently fixed at £750 per day.

The LMAA Intermediate Claims Procedure (2009)

Paragraphs 5(b) and 19(b) - The LMAA Fee

Fixed by the Committee of the LMAA

Currently fixed at £250

Paragraph 17 - Appointment Fee

Fixed by the Committee of the LMAA

Currently fixed at £200.

The LMAA Small Claims Procedure

(This does not apply to the LMAA SCP 1989 which has different provisions)

Paragraph 2(a) - Fee

The fees and limitation on costs are those prevailing at the time of the commencement of the arbitration.

Small claim fee payable to the arbitrator

Fixed by the Committee of the LMAA

Currently fixed at £2,500

Paragraph 2(b) - Fee

Small claim fee payable to the LMAA for onward transmission to the arbitrator

Fixed by the Committee of the LMAA

Currently fixed at £2,500

Plus

Administration Fee

Set out in the terms.

£250

Paragraph 3(c) - Fee

Additional fee payable to the arbitrator for a counterclaim which exceeds the amount of the claim

Fixed by the Committee of the LMAA

Currently fixed at £1,500

Paragraph 8 - Limitations on Costs

Claim

Fixed by the Committee of the LMAA

Currently fixed at a maximum of £3.500 (£2,750 for arbitrations commenced before 1 March 2010).

Counterclaim which exceeds the amount of the claim

Fixed by the Committee of the LMAA

Currently fixed at a maximum of £4,000 for claim and counterclaim (£3,250 for arbitrations commenced before 1 March 2010).

The Fee for Certifying Documents

Fixed by the Committee of the LMAA.

Currently fixed at £250.

The Fee for Default and other Appointments

(not under the LMAA Small Claims Procedure)

Fixed by the Committee of the LMAA.

Currently fixed at £250.

The LMAA Mediation Terms

Paragraph 13A - Appointment Fee

Set out in the terms

£250

www.lmaa.org.uk/notes-on-fees.aspx

Tags