Lloyd's Market Association Bulletin

LMA24-020-TC| 05 April 2024

Model Canadian Arbitration Clause Published - LMA5633

The LMA has published a model Canadian Arbitration Clause, LMA5633, suitable for use in all Canadian provinces and territories.

The clause sets out how the panel of three arbitrators will be selected and specifies the qualifications they must have.

Arbitrators are required to come to a reasoned written decision, with the losing party paying the costs of the arbitration.

The law that the arbitration will be subject to, and the seat of arbitration are left blank. Thus, please note that when using this model clause, paragraphs 9 and 10 must be completed by filling in the name of the relevant Canadian province, territory or city.