FEES AND COSTS AS FROM 1 MARCH 2010
Introduction
The various LMAA Terms provide:-
1. for certain fees to be paid by the parties; and
2. for certain limitations on 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 or for providing certificates. This is an amount 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 March 2010. 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 Terms - First Schedule
(A) Appointment Fee
Fixed by the Committee of the LMAA
Currently fixed at £200
(D) Booking fees
Fixed by the Committee of the LMAA
Currently fixed at £750 per day.
The LMAA Intermediate Claims Procedure (2009)
Paragraphs 5(b) and 19(b) - The LMAA Fee
Fixed by the Committee of the LMAA
Currently fixed at £250
Paragraph 17 - Appointment Fee
Fixed by the Committee of the LMAA
Currently fixed at £200.
The LMAA Small Claims Procedure
(This does not apply to the LMAA SCP 1989 which has different provisions)
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 £2,500
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 £2,500
Plus
Administration Fee
Set out in the terms.
£250
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 £1,500
Paragraph 8 - Limitations on Costs
Claim
Fixed by the Committee of the LMAA
Currently fixed at a maximum of £3.500 (£2,750 for arbitrations commenced before 1 March 2010).
Counterclaim which exceeds the amount of the claim
Fixed by the Committee of the LMAA
Currently fixed at a maximum of £4,000 for claim and counterclaim (£3,250 for arbitrations commenced before 1 March 2010).
Fee for Certifying Documents
Fixed by the Committee of the LMAA.
Currently fixed at £250.
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