Since 1993, Asdem arbitrations have proven to be a faster, cost-effective and efficient alternative to traditional Arbitration or High Court proceedings. They have been used by many oil companies, shipowners and traders who value Asdem’s reputation for independence.
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 established its own arbitration service in 1993.
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 should be made within 30 days of the award.
A comprehensive overview of Asdem's arbitration procedure is available for download by clicking here