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.

All LMA model documents are purely illustrative and are published and distributed for the guidance of Lloyd’s managing agents, brokers and other market participants. All contracting parties are free to agree to different conditions/amend the model documents as they see fit; the LMA does not protect its intellectual property rights over model documents. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk. Model documents are available on the Lloyd’s Wordings Repository (LWR).

Toby Clark
Executive, Technical Underwriting
toby.clark@lmalloyds.com

Ray Koh
Legal Counsel
ray.koh@lmalloyds.com