“BIMCO/LMAA arbitration clause as published on the official site of the London Maritime Arbitrators Association - http://www.lmaa.org.uk – to be fully applicable to this contract and any bill of lading issued hereunder English law”
“With the introduction by the LMAA of the Intermediate Claims Procedure (2009), designed to deal with claims of between USD 100,000 and USD 400,000（emphasis added） the LMAA has worked with BIMCO to produce some recommended additional wording for its Dispute Resolution Clause/Law and Arbitration Clause 1998. The new procedure is intended to limit the cost of arbitrating to suit a wide range of shipping and commodity related disputes. It has been designed to enable any party using arbitration to settle a commercial dispute, to predict the cost of proceeding from the outset of the case. For anyone wishing to incorporate the new Intermediate Claims Procedure into their charterparties or other agreements, BIMCO has drafted a suitably worded provision”
