Maritime Disputes Flashcards
1
Q
What is Arbitration?
A
The solving of disputes by an independent and impartial third party.
Solved outside of court.
2
Q
What are main centers in the world for arbitration?
A
London and New York. London is more popular for those prefer to retain their anonymity.
3
Q
What are the main advantages of Arbitration?
A
Convenient Cheaper Faster Less formal expert knowledge of Arbitrator
4
Q
What is solved by Arbitration?
A
Maritime Disputes between two parties over a marine related contract - eg, charter party agreements and LOF 2020 salvage agreement
