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London Maritime Arbitrators Association

C1. Commercial shipping, chartering, economics and finance

Definition

LMAA, specialised maritime arbitration body.

The London Maritime Arbitrators Association (LMAA) is the body of arbitrators that administers the bulk of the world’s maritime arbitration, formed in 1960 and based in London. It is not a court and does not appoint tribunals as of right; its members sit as arbitrators when parties name them, typically under a charter party or bill of lading providing for London arbitration under English law. The LMAA Terms govern procedure, with the Small Claims Procedure and Intermediate Claims Procedure for lower-value disputes. London handles more maritime arbitration references each year than any other seat.

Source: London Maritime Arbitrators Association (LMAA) Terms