TiberiasMC launches an updated program of 12-Part Series on Maritime Arbitration and Disputes Resolution Forums – Reviews & Analyses Sessions.
The sea and Maritime Industry segments are an extensive part of human life. In fact, maritime is the only industrial segment that does not have a single nationality but rather, a world of its own which covers 2/3rd of the planet earth.
- According to UNCTAD Annual Trade Statistics of 2020, 80% of the global trade is through sea.
- Next, according to EIA, about 50% of global energy needs are met by Oil & Gas, out of which a significant percentage, roughly around 30% to 40%, is produced from offshore, that means below the seabed.
- Furthermore, this percentage is unlikely to change despite the expansion of solar and wind power. Nuclear energy may increase in certain developed countries but the Oil & Gas derived from offshore means, will still remain a significant contributor for human survival.
These three fundamental facts may imply that it would be natural to have large number of disputes, of international nature and often multi-party of different countries of origin. Historically, London was the hub for maritime trade, so courts of England were by default the forum for resolution of maritime disputes. The world has progressed, laws have evolved with a degree of uniformity, through stewardship of IMO and ratification of International Maritime Conventions. This has brought the expansion of Dispute Resolution Forums away from London to more cost-effective venues. With increasing cost and competition between venues of dispute resolution, it is of paramount importance that the parties should draft Applicable Law and Dispute Resolution Clauses in their contracts and Charter Parties, with due diligence.
To assist the parties from Maritime and Oil & Gas sectors, the Course on Dispute Avoidance and Managing Disputes Resolution Processes, especially International Maritime Arbitration, will be delivered in 12 two–hourly sessions.
This 12-Part series of discussion sessions are developed to expose the pitfalls of preprinted default dispute resolution clauses and consequences faced by the parties. Each session is devoted to one specific challenge, related case studies, applicable legal principles, and recommendations for managing your business amicably and profitably.
Who Must Attend?
Ship Owners, Charterers and Offshore Field Operations Managers, Commercial and Marketing Directors, Corporate Legal Counsels, Practicing Maritime Lawyers interested in Offshore Sectors, Fleet Managers and Superintendents, Operations Managers, Masters, Post-fixture Managers, Investment Analysts and Offshore Credit Risk Managers of Financial Institutions, Managers from Platform Operators and Organizations engaged in Offshore E & P Projects.
The course is divided into specific Subject-matter for each of the 12 Sessions, titled as:
1.Anatomy of Default Applicable Law and Dispute Resolution Clause
This will address Context, Parties, Sub-sub-sub Charters, Potential pitfalls in printed clauses and what to consider when reviewing or drafting LDRC.
2. Amending or Avoiding the Default Clause When a Dispute has Erupted
The second session is especially important for parties who have unknowingly inherited a preprinted LDRC but now find themselves in a dilemma.
The questions like why amend, what are the consequences of not amending and benefits of amending for both or all parties.
3. Introduce Stages or Tiers in a Dispute Resolution Process
Session-3 discusses various stages in a Dispute Resolution Process. Stages can be defined either by nature of disputes and method of resolution or by forums in a sequential order. The focus is on conflict management and negotiation, to minimize cost and time to be incurred in resolving disputes. This is to restrain from invoking arbitration or litigation in the first instance, but only as a last resort.
4. Dealing with Multiple or Conflicting Dispute Resolution Clauses
Session-4 exposes the situations where more than one LDRC has been incorporated either by mistake or consciously without proper understanding.
We will share the lesson learned from case studies with some examples of Broker introduced confusion and Bills of Lading issues.
5. Role of Mediation in Resolving International Maritime Disputes
Session-5 is devoted to role of mediation in saving costs and times. Most importantly discussion on enforceability of International Mediation Settlement Agreements and how the UNCITRAL Mediation Convention 2018 is useful in enhancing the use of mediation for maritime disputes.
6. Forum Shopping for Litigation or Arbitration
In Session-6 we elaborate when to opt for Court Litigation and when for arbitration. Also, cases related to jurisdictional challenges as delay tactics or for forum convenience will be discussed.
7. Applying Security for Costs in Arbitration or Courts
Session-7 & 8 are related to Tactical strategies often adopted by parties in Maritime Arbitration. The underlying objectives for such tactical steps can be either to delay or derail the arbitration process or pressurize the weaker party to abandon arbitration. Sometimes but rarely, it is for genuine treasons.
8. Arresting Ship for Security for Claim or for Costs
9. Consolidating Multi-party Dispute Resolution Clause
It is quite common to see multiple parties in a single venture especially for Offshore E & P projects. The cause of dispute could be common, so it is prudent to resolve multi-party disputes in a single forum whether arbitration or litigation.
10. Estimating and Controlling Costs of Dispute Resolution Forums
Session-10 teaches practical steps to be taken for managing dispute resolution process as a project with budgeted costs and time instead of leaving the files in the hands of litigation team with open cheque books.
11. Drafting and Reviewing the Dispute Resolution Clause
Session -11 will draw upon the discussions of first 10 sessions and demonstrate how to draft a LDRC in context of the engagement of parties, to avoid pitfalls and uncertainties of legal forums.
12. Enforcing International Arbitral Awards
Session-12 highlights the increasing challenges and difficulties in enforcing arbitral awards against losing parties for various contemporary reasons despite arbitration friendly jurisdictions.
In conclusion, there are five Important Notes for Participation in these sessions.
- These 12 sessions are extensively researched and from practitioners’ perspectives to assist the parties. This workshop should not be confused with Virtual podcasts or pre-recorded webcasts or VILT Session style presentations. These sessions will be Online Real-time and Instructor Led-Training (“ORT”) sessions.
- You can submit questions to be addressed during the ORT session without identifying yourself to other participants.
- The access to the ORT platform can be by any devices (Laptop, Mobile Phones or Notepads) with good internet connection, from anywhere in the world. However, it is highly recommended to use your laptops / Desktops for better understanding of the content to be presented.
- The detailed instructions and study materials will be sent prior to the session with individual access code.
- The Participants are encouraged to be interactive during the workshop session.
Pre-Session Questions and Clarifications
Participants can submit questions prior to or during the event through the Chat/ Q & A feature on the event page or by emailing in advance to eventadmin@tiberiasmc.com
The sessions will be held every Thursday of the month, beginning from 7 January 2021 at 3pm Singapore / Hong Kong Time.
The presentation will be for 75 minutes and followed by 45 minutes for Q & A or workshops.
Click here to register or send an email to customerdesk.tmc@tiberiasmc.com
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