Because international transport of goods is primarily by sea, maritime contracts have an important place in international business transactions. Maritime contracts do not involve only exporters and importers.
Arbitration agreements in charter parties, which are contracts between a charterer who takes over the use of the whole or a substantial portion of a ship belonging to the owner, are contained in standard form contracts that are rarely negotiated.
Bills of lading are documents evidencing receipt of goods for shipment issued by the transporter or freight forwarder. Bills of lading are transport contracts that determine, among other things, how the goods will be shipped, when they will be loaded, when they should arrive at destination, and sometimes where and how the quality of the goods will be verified. Bills of lading often incorporate by reference maritime ADR clauses or clauses referring to courts.
In maritime disputes time is generally of the essence as the goods may perish or deteriorate quickly and because demurrage may be payable when a ship arrives late. Courts will rarely be suited to deal rapidly with the substance of these disputes, although their intervention can be important where conservatory or provisional measures are urgently required, such as restraining a party from removing assets from a certain territory, arresting a vessel or appointing an expert.
MCN Panel of Experts and Administration of Maritime disputes are cost effective compared to any other reputed organization. Parties can agree to resolve their dispute under the rules and administration of MCN even if the clause are mentioning a different source. Please contact us HERE for more details.