Asia-Pacific Maritime Arbitration Center

1. Maritime Arbitration Agreement

There must be an arbitration agreement between the parties in dispute to resolve the dispute pursuant to the maritime arbitration rules either prior to or after the commencement of dispute.

What is Arbitration Agreement?

It refers to the parties' written agreement to resolve their disputes by arbitration.

A. Prescribed as a contractual dispute resolution clause for arbitration agreement

The arbitration agreement is typically prescribed in the relevant contract's dispute resolution clause stating to the effect that maritime disputes would be resolved through the Asia-Pacific Maritime Arbitration Center's maritime arbitration.

B. Arbitration agreement can be established either before or after the dispute

Arbitration agreement can either be prescribed as a clause in a contract in advance (pre-dispute arbitration agreement) or produced as a separate written document after the occurrence of the dispute (post-dispute arbitration agreement).

C. After the occurrence of the dispute, reaching the post-dispute arbitration agreement is difficult in practice

It is difficult to agree to the post-dispute arbitration agreement after the dispute has arisen. Thus, it is better to prescribe an arbitration clause in the contract at the time of its execution.

D. Support service for the establishment of arbitration agreement between the parties

The Asia-Pacific Maritime Arbitration Center offers the support service for the establishment of post-dispute arbitration agreements (in the form of contractual agreements as well as letters, etc.).

The Korean Commercial Arbitration Board's website(www.kcab.or.kr)provides the standard agreement and the arbitration agreement for ship chartering, building, sale and purchase, and bill of lading.

Pre-dispute arbitration agreement: List the details of dispute resolution through maritime arbitration in the dispute resolution clause of the contract prior to the occurrence of the dispute

Refer to the following examples of maritime arbitration agreement
Conditions of Use of Arbitration System: There must be an agreement between the parties prior to or after the commencement of the arbitration that the dispute "shall be resolved through maritime arbitration".
Post-dispute arbitration agreement: List the details of dispute resolution through maritime arbitration in the agreement concerned after the occurrence of the dispute

Refer to the following examples of maritime arbitration agreement

2. Examples of Maritime Arbitration Agreement

A. Pre-Dispute Arbitration Agreement (details to be included in the arbitration clause in the agreement)

[Arbitration Clause]

All disputes, arguments or differences in opinions between the parties arising from or in relation to this Agreement or non-performance of this Agreement shall be finally and conclusively resolved through arbitration in Korea (Busan) pursuant to the Maritime Arbitration Rules of the Asia-Pacific Maritime Arbitration Center and Korean law. The arbitrator(s)' decisions are final and conclusive and are binding on the parties.

B-1. Post-Dispute Arbitration Agreement (agreement after the occurrence of the dispute / details to be included in the agreement)

[How to Draft the Agreement]

B-2. Post-Dispute Arbitration Agreement (agreement after the occurrence of the dispute / details to be included in the agreement)

[By Way of Official Letters]

Way of exchanging official letters to the effect that they will resolve the relevant dispute by the Asia-Pacific Maritime Arbitration Center's maritime arbitration.