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CHARTER PARTIES
Time Charter Party
Disputes
Disputes about the implementation of the charter agreement are usually settled by arbitration (e.g. London or New York).
(a) NEW YORK
All disputes arising out of this contract shall be arbitrated at New York in the following manner, and
subject to U.S. Law:
One Arbitrator is to be appointed by each of the parties hereto and a third by the two so chosen. Their
decision or that of any two of them shall be final, and for the purpose of enforcing any award, this
agreement may be made a rule of the court. The Arbitrators shall be commercial men, conversant with
shipping matters. Such Arbitration is to be conducted in accordance with the rules of the Society of
Maritime Arbitrators Inc.
For disputes where the total amount claimed by either party does not exceed US $ **
the arbitration shall be conducted in accordance with the Shortened Arbitration Procedure of the Society of Maritime Arbitrators Inc.
(b) LONDON
All disputes arising out of this contract shall be arbitrated at London and, unless the parties agree
forthwith on a single Arbitrator, be referred to the final arbitrament of two Arbitrators carrying on business in London who shall be members of the Baltic Mercantile & Shipping Exchange and engaged in Shipping, one to be appointed by each of the parties, with power to such Arbitrators to appoint an Umpire. No award shall be questioned or invalidated on the ground that any of the Arbitrators is not qualified as above, unless objection to his action be taken before the award is made. Any dispute arising hereunder shall be governed by English Law.
For disputes where the total amount claimed by either party does not exceed US $ **
the arbitration shall be conducted in accordance with the Small Claims Procedure of the London Maritime Arbitrators Association. (NYPE, Clause 45, Arbitration.)
*Delete para (a) or (b) as appropriate
** Where no figure is supplied in the blank space this provision only shall be void but the other provisions of this clause shall have full force and remain in effect.
If mutually agreed, clauses to , both inclusive, as attached hereto are fully incorporated in this Charter Party.
See also BALTIME, Clause 22, Dispute Resolution and GENTIME, Clause 22, Law and Arbitration.
