The Ukrainian Maritime Arbitration Commission (the UMAC) at the Ukrainian Chamber of Commerce and Industry has been considering disputes in the area of merchant shipping according to high international standards since 1994.
While functioning under the Ukrainian Chamber of Commerce and Industry, the UMAC maintains its independence and autonomy as an arbitration institution.
Why to choose the UMAC?
The transparent and predictable arbitration
- competitive arbitration fees at the UMAC are calculated upon the price of the claim and do not depend оn the hourly rates of arbitrators and working hours spent by them
- nо additional charges needed in case of filling а petition for taking interim measures
- if parties enter into amicable settlement 25% of the arbitration fee is returned to the Claimant
- the appointment of the arbitrator bу the President of the Ukrainian Chamber of Commerce and Industry, as well as the number and duration of the Arbitral Tribunal hearings are not а subject to any additional fees.
- nonе of the UMAC arbitral awards had been set aside during 24 years of the UMAC operation
- the duration of considering approximately 38.5% of the cases is less than 3 months. The duration of considering 69.3% of the cases is less than 6 months
- the arbitration is also possible upon written submission without any oral meeting conducted or upon accelerated procedure up to 2 months
- prompt and without additional financial expenses issue of the interim measures, including arrest of the vessel / cargo of the other party to secure maritime claim
- the UMAC Rules determine clear terms of each part of the arbitral proceeding
Meeting the needs of the parties
- the parties are able to determine every aspect of the arbitration procedure: personal composition of the Arbitral Tribunal, number of arbitrators, an applicable law, place, language and form of the arbitral proceedings
- an efficient and clear procedure allows the parties to participate in arbitration with nо involvement of external lawyers
- high level of support provided to the parties and arbitrators bу the UMAC Secretariat