LCIA Arbitration

Meaning

Private dispute resolution process administered by the London Court of International Arbitration follows its specific institutional rules. Using lcia arbitration allows parties to resolve commercial conflicts in a neutral venue outside of the public court system. It is a preferred choice for international contracts due to its reputation for efficiency and finality.

Registrar Oversight

Administration of the case is handled by a professional body that ensures the rules are followed correctly. The registrar manages the communication between the parties and the tribunal to prevent delays. This oversight provides a structured environment for the legal battle.

Arbitrator Appointment

Selection of the judges is done by the court based on the expertise needed for the specific case. Parties can nominate their own arbitrators, but the institution must confirm them to ensure independence.

Fee Structure

Costs are calculated based on the time spent by the arbitrators and a fixed administrative charge. This differs from other institutions that charge a percentage of the amount in dispute. It provides more predictability for companies facing large claims.

The final award is binding and can be enforced in over one hundred countries through international treaties. Many maritime and energy contracts specify this forum because it handles complex technical evidence with a high level of professionalism.

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Pari Passu UNCITRAL Model Law Ipso Facto Clause

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