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Arbitration and Mediation

Since 1993, Asdem arbitrations - proven to be a faster, cost-effective and efficient alternative to traditional Arbitration or High Court proceedings - have been used by many oil companies, ship owners and traders to resolve their differences efficiently and cost effectively. A comprehensive overview of Asdem's arbitration procedure is shown below along with other dispute resolution options including Professional Opinion and Mediation.

Arbitration by Asdem

Many arbitration procedures are painfully slow and as expensive as High Court proceedings and unpredictable. In response to the oil and tanker industries' demand for a faster, cheaper and more efficient alternative and reliable decisions based on industry expertise knowledge and experience, Asdem has successfully established its own arbitration service which has been running for more than 20 years. This service has been used by numerous oil companies, ship owners and traders.

What are the advantages of an Asdem arbitration?

  • Asdem arbitration is less formal and adversarial than most forms of arbitration.
  • It is quick. A detailed reasoned award will be given, usually within 30 days.
  • Settlement will be made within 30 days of the award.
  • The modest cost of the arbitration will be shared 50/50, unless otherwise agreed.
  • The award is based on conclusions that have been carefully researched within the industry.
  • Asdem's reputation is founded on it being totally unbiased and independent.

If you need a fast track resolution of a difficult disputed issue, we would suggest that you propose an Asdem arbitration to the other side. At best it will lead to a speedy conclusion, at worst it will at least signify that you have every confidence in your argument and that you are looking for an equitable solution. For the Asdem Arbitration Rules/Procedure please click here.

Professional Opinion that both sides will agree to accept as final and binding.

There are often just one or two points in a claim that cannot be agreed. In an effort to find an effective and inexpensive way to resolve such disputes, companies have increasingly asked Asdem to write an independent professional opinion that both sides agree in advance to abide by. This can be cheaper than an arbitration and usually only requires both sides to send their version of events and arguments to Asdem. Once the facts have been established, Asdem will produce a reasoned professional opinion.

All of Asdem's Professional Opinions are independent and objective including circumstances where one party only engages us.

Mediation - An Alternative to Legal Action

Because of Asdem's familiarity with a wide variety of contracts and charter parties, and the way the oil industry interprets them, the company is often asked to intervene in disputes. In almost every case it has been possible to avoid the expense of court action. Asdem can provide an opinion based on industry practice and precedents, including cases previously resolved by the company. The company has tried to establish a single rule for every eventuality, thus reducing the potential for future disagreement. Asdem has actively promoted the use of various forms of Alternative Dispute Resolution as a cost-effective means of settling many types of potentially expensive disagreement. Mediation has proved particularly suitable for companies with an on-going relationship, which they do not want to disrupt for the sake of one disagreement.

 
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1446-1448 London Road
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