However, London maritime arbitration has recently been subject to severe criticism due to increased costs and delays. Dispute resolution through London arbitration involves more time and expense than in New York. There will be a strict timetable for exchange of submissions, with no pleadings.
Submissions can be in any form.
Discovery will be limited to relevant documents. Exchange of witness statements and experts' reports will also be subject to a tight timetable. The arbitrator must make the award within 7 months of the notice of his appointment, or 8 months in the event of a counterclaim. There will be no oral hearing unless the arbitrator deems it fitting. Security for costs will be kept at 7,500, subject to caveats.