FEES AND COSTS AS FROM 31 MARCH 2024

 

Introduction

The various LMAA Terms and Procedures provide:-

1. for certain fees to be paid by the parties; and
2. for certain 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.  This is an amount which is fixed from time to time by the Committee of the LMAA and which is a non-refundable administrative fee.

Purpose

The purpose of this page is to summarise and publish such fees and limitations as they will have effect from 31 March 2024. The provisions of the relevant LMAA Terms or Procedure and the FAQs should be also be referred to.

Receiving Bank Charges

Please note that an additional fee of up to £15 may be added to the fees indicated where payments are made from outside the UK to cover receiving bank charges.

VAT

Where applicable, VAT is payable in addition to such fees.

 

The LMAA Terms – First Schedule

(A) Appointment Fee

Currently fixed at £350

(D) Booking fees

Currently fixed at £1,250 per day for hearings of up to 10 days duration.

 

The LMAA Intermediate Claims Procedure
Paragraphs 6(b) and 20(b) – The LMAA Fee

Administrative Fee (non-refundable)

Currently fixed at £450

Paragraph 18 – Appointment Fee

Currently fixed at £350

 

The LMAA Small Claims Procedure
(This does not apply to the LMAA SCP 1989 which has different provisions.)

Paragraph 2(a) – Small Claim Fee (Arbitrator appointed by Agreement)

Small claim fee payable to the arbitrator
Currently fixed at £5,000

Paragraph 2(b) – Small Claim Fee (Arbitrator appointed by LMAA on application)

Small claim fee payable to the LMAA for onward transmission to the arbitrator
Currently fixed at £5,000

Plus

Administrative Fee (non-refundable)
Currently fixed at £450

Paragraph 3(c) – Fee

Additional fee payable to the arbitrator for a counterclaim which exceeds the amount of the claim
Currently fixed at £3,000

Paragraph 8 – Limitations on Costs

Claim
Currently fixed at a maximum of £6,000 (£5,000 for arbitrations commenced before 31 March 2024).

Counterclaim which exceeds the amount of the claim
Currently fixed at a maximum of £7,000 for claim and counterclaim (£6,000 for arbitrations commenced before 31 March 2024).

 

Fee for Certifying Documents

Administrative Fee (non-refundable)
Currently fixed at £450

Fee for Default and other Appointments
(not under the LMAA Small Claims Procedure)

Administrative Fee (non-refundable)
Currently fixed at £450

 

The LMAA Mediation Terms
Paragraph 13A – Appointment Fee

Currently fixed at £350