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.
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 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.