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FEES AND COSTS FROM 1ST JULY 2008
Introduction
The various LMAA Terms provide:-
1. for various fees to be paid by the parties; and
2. for various limitations on the recoverable costs.
These are either set out in the terms themselves or the terms provide that they shall be fixed from time to time by the Committee of the LMAA. Save where otherwise stated, they do not include fees which are payable directly to the arbitrators or mediators.
The LMAA also charges a fee for making default appointments and for providing certificates which is fixed from time to time by the Committee of the LMAA.
Purpose
The purpose of this page is to summarise and publish such fees and limitations as they stand on 1st July 2008. The terms of the rules and the FAQs should be also be referred to.
VAT
Where applicable, VAT is payable in addition to such fees
The LMAA Small Claims Procedure1
Paragraph 2(a) – Fee
The fees and limitation on costs are those prevailing at the time of the commencement of the arbitration.
Small claim fee payable to the arbitrator
Fixed by the Committee of the LMAA
Currently fixed at £2,000
Paragraph 2(b) - Fee
Small claim fee payable to the LMAA for onward transmission to the arbitrator
Fixed by the Committee of the LMAA
Currently fixed at £2,000
Plus
Administration Fee
Set out in the terms.
£150
Paragraph 3(c) - Fee
Additional fee payable to the arbitrator for a counterclaim which exceeds the amount of the claim
Fixed by the Committee of the LMAA
Currently fixed at £1,250
Paragraph 8 - Limitations on costs
Claim
Fixed by the Committee of the LMAA
Currently fixed at a maximum of £2,750 (£2,500 for arbitrations commenced before 1 July 2008).
Counterclaim which exceeds the amount of the claim
Fixed by the Committee of the LMAA
Currently fixed at a maximum of £3,250 for claim and counterclaim (£3,000 for arbitrations commenced before 1 July 2008).
The LMAA Terms - First Schedule
(A) Appointment Fee
Fixed by the Committee of the LMAA
Currently fixed at £150
(D) Booking fees
Fixed by the Committee of the LMAA
Currently fixed at £500 per day
The Fee for Certifying Documents
Fixed by the Committee of the LMAA.
Currently fixed at £100
The Fee for Default and other Appointments
(not under the LMAA Small claims procedure)
Fixed by the Committee of the LMAA.
Currently fixed at £250
The LMAA Mediation Terms
Paragraph 13A - Appointment Fee
Set out in the terms
£250
1 This does not apply to the LMAA SCP 1989 which has different provisions
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